Bridgestone (OTCMKTS:BRDCY) Shares Gap Down – Here’s What Happened

Shares of Bridgestone Corp. (OTCMKTS:BRDCY) gapped down before the market opened on Wednesday. The stock had previously closed at $13.59, but opened at $12.56. Bridgestone shares last traded at $12.94, with a volume of 37,363 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BRDCY. Zacks Research downgraded Bridgestone from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Sanford C. Bernstein cut shares of Bridgestone from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Four investment analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has an average rating of “Hold”.

Bridgestone Trading Down 1.8%

The business has a fifty day moving average price of $12.42 and a 200 day moving average price of $11.51. The company has a market capitalization of $33.55 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.19 and a beta of 0.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.78 and a quick ratio of 1.92.

Bridgestone Company Profile

Bridgestone Corporation is a Japan-based manufacturer of tires and rubber products. Its offerings include tires for passenger cars, trucks, buses, motorcycles, aircraft, and off-the-road vehicles, as well as related tire and mobility services. Founded in 1931 by Shojiro Ishibashi, the company takes its name from an English translation of its founder’s surname. Bridgestone acquired the U.S. tire maker Firestone in 1988, expanding its operations and product presence in North America. Bridgestone serves customers worldwide through manufacturing, sales, and service operations across multiple regions.