Why Goodyear Tire & Rubber Stock Jumped This Week
Goodyear Tire Rubber (NASDAQ: GT) investors had a stellar week following the tire giant's positive third-quarter earnings report. Shares jumped 20% through Thursday trading compared to the S 500's (SNPINDEX: ^GSPC) 4.2% rally, according to data provided by S&P Global Market Intelligence.
That short-term spike removed just a small portion of year-to-date losses for investors in the company, though, which has been posting declining sales in 2024. Yet it could point to more gains ahead for this underperforming consumer staples stock.
Goodyear announced on Monday that sales continued to shrink year over year, and that earnings declined again. Revenue slipped to $4.8 billion from $5.1 billion, while net loss landed at $34 million, compared to a loss of $84 million in the prior-year period.
Source Fool.com
The Goodyear Tire & Rubber Co. Stock
With 7 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 8 € shows a positive potential of 32.63% compared to the current price of 6.03 € for The Goodyear Tire & Rubber Co..
