Michelin (OTCMKTS:MGDDY) Reaches New 52-Week High – Should You Buy?

Michelin (OTCMKTS:MGDDY) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $20.4950 and last traded at $20.4950, with a volume of 2892 shares traded. The stock had previously closed at $20.41.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Zacks Research raised Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Michelin in a research note on Tuesday, July 28th. Finally, Citigroup restated a “buy” rating on shares of Michelin in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Michelin Stock Up 1.0%

The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $19.68 and its two-hundred day moving average is $18.83.

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.