The Goodyear Tire & Rubber Company (GT): Price Target and June Short Interest Disclosure

The Goodyear Tire & Rubber Company (GT) : Average target price received by The Goodyear Tire & Rubber Company (GT) is $31.8 with an expected standard deviation of $7.6. The most aggressive target on the stock is $39, whereas the most downbeat target is $20. 5 financial analysts are currently covering the stock.

The Goodyear Tire & Rubber Company (GT) has seen a shortfall of 858,762 shares or 4.3% in the short interest. The remaining shorts are 7.3% of the total floated shares. The net short interest, as on June 30,2016, stood at 19,101,810 shares and the stocks days to cover will be 5 by factoring in the average per day volume of 3,659,303 shares. On June 15,2016, 19,960,572 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Brokerage firm KeyBanc upgrades its rating on The Goodyear Tire & Rubber Company (NASDAQ:GT). The shares have been rated Overweight. Previously, the analysts had a Sector Weight rating on the shares. 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 $26.91, the bulls momentum made the stock top out at $27 level for the day. The stock recorded a low of $26.51 and closed the trading day at $26.64, in the green by 0.23%. The total traded volume for the day was 3,400,561. The stock had closed at $26.58 in the previous days trading.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.