Continental (OTCMKTS:CTTAY) Sees Unusually-High Trading Volume – Time to Buy?

Continental AG (OTCMKTS:CTTAY) saw strong trading volume on Thursday . 86,124 shares changed hands during trading, an increase of 307% from the previous session’s volume of 21,182 shares.The stock last traded at $8.49 and had previously closed at $8.54.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Sanford C. Bernstein raised Continental from an “underperform” rating to a “market perform” rating in a research note on Monday, January 5th. Citigroup restated a “buy” rating on shares of Continental in a research note on Tuesday. Berenberg Bank cut shares of Continental from a “buy” rating to a “hold” rating in a report on Tuesday, January 13th. Barclays cut shares of Continental from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Zacks Research lowered shares of Continental from a “strong-buy” rating to a “strong sell” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Continental Price Performance

The company has a debt-to-equity ratio of 1.25, a current ratio of 1.32 and a quick ratio of 0.90. The firm has a market cap of $16.83 billion, a price-to-earnings ratio of 52.58 and a beta of 1.29. The stock has a 50-day moving average price of $7.87 and a 200 day moving average price of $7.91.

Continental (OTCMKTS:CTTAY) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.17). The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $4.93 billion. Continental had a return on equity of 1.14% and a net margin of 0.91%. As a group, equities research analysts forecast that Continental AG will post 0.66 earnings per share for the current fiscal year.

About Continental

Continental AG, trading on the OTC market under the ticker CTTAY, is a global technology company renowned for its wide range of automotive and industrial products. The company’s core businesses include the design, development, and manufacturing of tires for passenger cars, commercial trucks, and specialty applications, as well as advanced automotive systems such as braking solutions, vehicle stability controls, sensors and electronic safety devices.

Founded in 1871 and headquartered in Hanover, Germany, Continental began as a rubber manufacturer before pioneering pneumatic tires in the late 19th century.