Michelin (OTCMKTS:MGDDY) Sets New 12-Month High – Still a Buy?

Michelin (OTCMKTS:MGDDY) reached a new 52-week high during trading on Wednesday . The stock 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

MGDDY has been the subject of a number of recent analyst reports. Zacks Research raised Michelin from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Citigroup reaffirmed a “buy” rating on shares of Michelin in a report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Michelin in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Michelin presently has a consensus rating of “Hold”.

Michelin Trading Down 2.7%

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 has a fifty day moving average price of $19.73 and a two-hundred day moving average price of $18.84.

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.