Michelin (OTCMKTS:MGDDY) Sees Unusually-High Trading Volume – Time to Buy?

Michelin (OTCMKTS:MGDDY) saw strong trading volume on Monday . 219,214 shares were traded during mid-day trading, an increase of 30% from the previous session’s volume of 168,201 shares.The stock last traded at $18.2350 and had previously closed at $18.42.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Michelin in a research note on Tuesday, January 13th. They issued a “hold” rating on the stock. Oddo Bhf downgraded shares of Michelin to a “neutral” rating in a report on Tuesday, October 14th. Morgan Stanley reiterated an “equal weight” rating on shares of Michelin in a research report on Tuesday, December 2nd. Zacks Research upgraded shares of Michelin from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, UBS Group cut Michelin from a “buy” rating to a “neutral” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Michelin Trading Up 0.4%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.12 and a current ratio of 1.80. The stock has a 50 day simple moving average of $16.83 and a two-hundred day simple moving average of $17.33.

About Michelin

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.