Bridgestone Corp. (OTCMKTS:BRDCY) Short Interest Down 52.6% in July

Bridgestone Corp. (OTCMKTS:BRDCY) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 86,052 shares, a decrease of 52.6% from the July 15th total of 181,513 shares. Based on an average daily trading volume, of 291,532 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the company’s stock are sold short.

Analysts Set New Price Targets

BRDCY has been the subject of several recent research reports. Sanford C. Bernstein downgraded Bridgestone from a “strong-buy” rating to a “hold” rating in a report on Wednesday. The Goldman Sachs Group cut shares of Bridgestone from a “strong-buy” rating to a “neutral” rating in a report on Wednesday, June 17th. Finally, Zacks Research raised shares of Bridgestone from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Bridgestone currently has a consensus rating of “Moderate Buy”.

Bridgestone Stock Down 0.6%

Shares of OTCMKTS:BRDCY traded down $0.08 on Friday, reaching $12.84. The company had a trading volume of 694,653 shares, compared to its average volume of 148,485. The firm has a market capitalization of $34.26 billion, a PE ratio of 20.06, a PEG ratio of 1.18 and a beta of 0.54. The company has a current ratio of 2.71, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. Bridgestone has a 52-week low of $9.15 and a 52-week high of $13.64. The firm’s 50 day simple moving average is $11.45 and its 200-day simple moving average is $11.08.

Bridgestone (OTCMKTS:BRDCY) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.87 billion. As a group, analysts expect that Bridgestone will post 0.89 earnings per share for the current fiscal year.

Bridgestone Company Profile

Bridgestone Corporation is a Japanese multinational company principally engaged in the design, manufacture and sale of tires and rubber products. Founded in 1931 by Shojiro Ishibashi and headquartered in Tokyo, the company has grown into one of the world’s largest tire manufacturers, offering products for a broad range of vehicles and applications.

The company’s core offerings include tires for passenger cars, motorcycles, commercial trucks and buses, agricultural and off?the?road equipment, and aircraft.