Michelin (OTCMKTS:MGDDY) Shares Gap Up – What’s Next?

Shares of Michelin (OTCMKTS:MGDDY) gapped up prior to trading on Thursday . The stock had previously closed at $14.84, but opened at $16.08. Michelin shares last traded at $16.05, with a volume of 16,795 shares.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. BNP Paribas upgraded shares of Michelin to a “hold” rating in a report on Thursday, July 10th. Oddo Bhf downgraded shares of Michelin to a “neutral” rating in a report on Tuesday, October 14th. Zacks Research downgraded shares of Michelin from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, Citigroup restated a “buy” rating on shares of Michelin in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Michelin currently has a consensus rating of “Hold”.

Michelin Trading Up 1.0%

The business’s 50 day moving average is $17.69 and its 200-day moving average is $18.12. 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

Compagnie Générale des Établissements Michelin SCA engages in the manufacture, distribution and sale of tires. Its products and services include tires, mobility services, lifestyle products, Michelin solutions and Michelin engineering and services. The company operates through the following segments: Passenger car and Light truck tires and related distribution, Truck tires and related distribution, and Specialty businesses.