Michelin (OTCMKTS:MGDDY) Stock Breaks Above 200 Day Moving Average – What’s Next?

Michelin (OTCMKTS:MGDDY) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $18.84 and traded as high as $18.90. Michelin shares last traded at $18.88, with a volume of 190,647 shares.

Analysts Set New Price Targets

Several research firms have issued reports on MGDDY. Citigroup restated a “buy” rating on shares of Michelin in a report on Wednesday, August 12th. Barclays downgraded shares of Michelin from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 5th. Finally, Deutsche Bank restated a “buy” rating on shares of Michelin in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold”.

Michelin Price Performance

The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $18.75 and a 200 day moving average of $18.84.

About Michelin

Michelin is a French tire and mobility company founded in 1889 by brothers André and Édouard Michelin. Headquartered in Clermont-Ferrand, France, it has grown into a global manufacturer serving customers and vehicle makers around the world. The company develops and sells tires for passenger cars, motorcycles, bicycles, trucks, agricultural and construction equipment, aircraft, and other specialized vehicles. Its offerings also include tire-related services and mobility solutions for consumers and commercial fleets.