Michelin (OTCMKTS:MGDDY) Trading Down 0.7% – Here’s What Happened

Michelin (OTCMKTS:MGDDY)’s share 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 mid-day trading, a decline of 49% from the average session volume of 241,064 shares. The stock had previously closed at $16.51.

Analyst Upgrades and Downgrades

MGDDY has been the subject of a number of research reports. UBS Group cut shares of Michelin from a “buy” rating to a “neutral” rating in a report on Tuesday, December 2nd. Oddo Bhf cut Michelin to a “neutral” rating in a report on Tuesday, October 14th. Morgan Stanley reissued an “equal weight” rating on shares of Michelin in a report on Tuesday, December 2nd. Zacks Research raised Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Citigroup reaffirmed a “buy” rating on shares of Michelin in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Michelin Price Performance

The business’s fifty day moving average price is $16.22 and its 200 day moving average price is $17.54. The company has a quick ratio of 1.12, a current ratio of 1.80 and a debt-to-equity ratio of 0.04.

Michelin Company Profile

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.