Michelin (OTCMKTS:MGDDY) Trading Down 5% – Here’s Why

Michelin (OTCMKTS:MGDDY) was down 5% during trading on Friday . The stock traded as low as $17.50 and last traded at $17.54. Approximately 12,913 shares were traded during trading, a decline of 92% from the average daily volume of 154,470 shares. The stock had previously closed at $18.4640.

Analyst Ratings Changes

Several research analysts have commented on MGDDY shares. Zacks Research lowered shares of Michelin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Citigroup reaffirmed a “buy” rating on shares of Michelin in a research note on Thursday, January 29th. Finally, Barclays raised shares of Michelin from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Michelin currently has an average rating of “Hold”.

Michelin Stock Down 3.7%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.90. The firm’s 50 day simple moving average is $17.83 and its 200 day simple moving average is $17.65.

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.