The Goodyear Tire & Rubber Company (NASDAQ:GT) has tumbled 0.26% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.66% in the last four weeks. The company has outperformed the S&P 500 by 0.94% in the past week but underperformed the index by 0.26% in the last 4 weeks.
The Goodyear Tire & Rubber Company (NASDAQ:GT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $26.98 and $26.89 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.35, notching a gain of 1.00% for the day. The total traded volume was 3,719,209 . The stock had closed at $27.08 on the previous day.
The company shares have dropped -12.37% from its 1 Year high price. On Dec 2, 2015, the shares registered one year high at $35.30 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $27.69 and the 200 Day Moving Average price is recorded at $30.25.
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Goodyear Tire & Rubber Co /Oh/, Morell Michael J, had purchased 875 shares in a transaction dated on May 5, 2016. The transaction was executed at $27.99 per share with total amount equaling $24,491.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, KeyBanc upgrades its rating on The Goodyear Tire & Rubber Company (NASDAQ:GT).The analysts at the brokerage house have a current rating of Overweight on the shares. Earlier, the shares were rated a Sector Weight by the brokerage firm. The rating by the firm was issued on April 7, 2016. Currently the company Insiders own 1.2% of The Goodyear Tire & Rubber Company shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 45.46% . Institutional Investors own 91.91% of The Goodyear Tire & Rubber Company shares. During last six month period, the net percent change held by insiders has seen a change of -17.86%.
The Goodyear Tire & Rubber Company is a manufacturer of tires. The Companys business is the development, manufacture, distribution and sale of tires and related products and services across the world. The Company operates in four segments: North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia Pacific. The North America segment is a supplier of tires to manufacturers of automobiles, motorcycles, trucks and aircraft. The EMEA segment is a supplier of tires to vehicle manufacturers across the region. The Latin America segment manufactures and sells automobile and truck tires. The Asia Pacific segment sells primarily Goodyear brand tires throughout the region and also sells the Dunlop brand in Australia and New Zealand. The Company manufactures and sells tires under the Goodyear, Dunlop, Kelly, Debica, Sava and Fulda brands and various other Goodyear owned-house brands, and the private-label brands of certain customers.