The Goodyear Tire & Rubber Company (GT) has risen sharply, recording gains of 7.87% in the past 4 weeks. However, the stock has corrected -0.41% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 7.46% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The Goodyear Tire & Rubber Company is up 7.66% in the last 3-month period. Year-to-Date the stock performance stands at -10.04%. The stock has recorded a 20-day Moving Average of 2.77% and the 50-Day Moving Average is 7.25%.
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 $28.95 and $28.95 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.42. The buying momentum continued till the end and the stock did not give up its gains. It closed at $29.18, notching a gain of 0.21% for the day. The total traded volume was 2,969,192 . The stock had closed at $29.12 on the previous day.
Also, Citigroup maintains its rating on The Goodyear Tire & Rubber Company (NASDAQ:GT). The global brokerage major raises the current price target from $36 per share to $37 per share. Analysts at the Citigroup have a current rating of Buy on the shares. The rating by the firm was issued on July 28, 2016.
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.