Bridgestone (OTCMKTS:BRDCY) Sees Large Volume Increase – Here’s What Happened

Shares of Bridgestone Corp. (OTCMKTS:BRDCY) saw unusually-strong trading volume on Monday . 439,350 shares changed hands during trading, an increase of 53% from the previous session’s volume of 288,055 shares.The stock last traded at $12.7950 and had previously closed at $12.92.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BRDCY shares. Sanford C. Bernstein cut shares of Bridgestone from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. The Goldman Sachs Group lowered Bridgestone from a “strong-buy” rating to a “neutral” rating in a report on Wednesday, June 17th. Finally, Zacks Research raised Bridgestone from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Bridgestone Price Performance

The business’s 50-day simple moving average is $11.45 and its two-hundred day simple moving average is $11.08. The company has a quick ratio of 1.83, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. The stock has a market cap of $34.27 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 1.18 and a beta of 0.54.

Bridgestone (OTCMKTS:BRDCY) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.87 billion. Sell-side analysts expect that Bridgestone Corp. will post 0.89 EPS for the current year.

Bridgestone Company Profile

Bridgestone Corporation is a Japanese multinational company principally engaged in the design, manufacture and sale of tires and rubber products. Founded in 1931 by Shojiro Ishibashi and headquartered in Tokyo, the company has grown into one of the world’s largest tire manufacturers, offering products for a broad range of vehicles and applications.

The company’s core offerings include tires for passenger cars, motorcycles, commercial trucks and buses, agricultural and off‑the‑road equipment, and aircraft.