Michelin (OTCMKTS:MGDDY) Stock Price Down 0.7% – What’s Next?

Michelin (OTCMKTS:MGDDY)’s stock price traded down 0.7% during trading on Tuesday . The stock traded as low as $16.33 and last traded at $16.40. 123,807 shares were traded during trading, a decline of 49% from the average session volume of 241,064 shares. The stock had previously closed at $16.51.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MGDDY shares. Citigroup reissued a “buy” rating on shares of Michelin in a research report on Friday, October 10th. Oddo Bhf lowered Michelin to a “neutral” rating in a report on Tuesday, October 14th. Zacks Research cut Michelin from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. UBS Group downgraded Michelin from a “buy” rating to a “neutral” rating in a report on Tuesday, December 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Michelin in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Michelin Stock Down 0.7%

The business has a fifty day moving average of $16.19 and a two-hundred day moving average of $17.55. The company has a quick ratio of 1.12, a current ratio of 1.80 and a debt-to-equity ratio of 0.04.

About Michelin

Michelin (OTCMKTS: MGDDY) is a French multinational tire manufacturer founded in 1889 and headquartered in Clermont-Ferrand, France. Over more than a century the company has grown into one of the world’s leading tiremakers, serving passenger car, truck, motorcycle, bicycle, agricultural, construction and aviation markets. Michelin has a global footprint with manufacturing facilities, research centers and commercial operations across multiple regions to supply OEMs, replacement markets and large commercial fleets.

The company’s core business is the design, manufacture and sale of tires and related products.