Michelin (OTCMKTS:MGDDY) Sets New 52-Week High – Still a Buy?

Michelin (OTCMKTS:MGDDY) shares reached a new 52-week high on Wednesday . The stock traded as high as $20.00 and last traded at $20.00, with a volume of 73714 shares traded. The stock had previously closed at $19.42.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MGDDY. Zacks Research upgraded Michelin from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Oddo Bhf downgraded shares of Michelin to a “neutral” rating in a report on Tuesday, October 14th. Berenberg Bank assumed coverage on shares of Michelin in a report on Tuesday, January 13th. They set a “hold” rating for the company. UBS Group lowered Michelin from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 2nd. Finally, Citigroup reissued a “buy” rating on shares of Michelin in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Michelin Stock Performance

The firm has a 50 day moving average of $17.38 and a 200-day moving average of $17.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.12 and a current ratio of 1.80.

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.