Michelin (OTCMKTS:MGDDY) Shares Gap Down – Time to Sell?

Michelin (OTCMKTS:MGDDY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $18.4640, but opened at $17.5601. Michelin shares last traded at $17.6550, with a volume of 1,041 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research lowered shares of Michelin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Citigroup restated a “buy” rating on shares of Michelin in a research note on Thursday, January 29th. Finally, Barclays upgraded shares of Michelin from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Michelin Stock Down 0.1%

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 fifty day moving average is $17.83 and its 200 day moving average is $17.67.

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.