Price Target Update on The Goodyear Tire & Rubber Company (NASDAQ:GT)

The Goodyear Tire & Rubber Company (NASDAQ:GT) : The consensus price target for The Goodyear Tire & Rubber Company (NASDAQ:GT) is $31.8 for the short term with a standard deviation of $7.6. The most optimist securities analyst among the 5 who monitor the stock believes that the stock can reach $39, however, the pessimist price target for the company is $20.

Other Equity analysts have also commented 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.

The Goodyear Tire & Rubber Company (NASDAQ:GT): stock turned positive on Thursday. Though the stock opened at $27.42, the bulls momentum made the stock top out at $27.715 level for the day. The stock recorded a low of $27.32 and closed the trading day at $27.41, in the green by 0.77%. The total traded volume for the day was 2,848,875. The stock had closed at $27.2 in the previous days trading.

The company shares have dropped -12.90% 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 $27.50 and the 200 Day Moving Average price is recorded at $30.02. 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.

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.

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