Michelin (OTCMKTS:MGDDY) Trading 0.1% Higher – Time to Buy?

Michelin (OTCMKTS:MGDDY)’s stock price was up 0.1% during trading on Thursday . The stock traded as high as $16.37 and last traded at $16.19. Approximately 426,773 shares traded hands during mid-day trading, an increase of 42% from the average daily volume of 301,259 shares. The stock had previously closed at $16.18.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup reissued a “buy” rating on shares of Michelin in a research note on Friday, October 10th. Oddo Bhf cut shares of Michelin to a “neutral” rating in a research report on Tuesday, October 14th. Finally, Zacks Research downgraded Michelin from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Michelin has an average rating of “Hold”.

Michelin Stock Performance

The business has a fifty day simple moving average of $17.21 and a 200 day simple moving average of $18.09. The company has a current ratio of 1.80, a quick ratio of 1.12 and a debt-to-equity ratio of 0.04.

Michelin Company Profile

Compagnie Générale des Établissements Michelin SCA engages in the manufacture, distribution and sale of tires. Its products and services include tires, mobility services, lifestyle products, Michelin solutions and Michelin engineering and services. The company operates through the following segments: Passenger car and Light truck tires and related distribution, Truck tires and related distribution, and Specialty businesses.