Michelin (OTCMKTS:MGDDY) Hits New 12-Month Low - Should You Sell?

Key Points

• Michelin's share price has reached a 12-month low, trading as low as $15.58, compared to a previous close of $17.08.
• Despite the decline in stock price, Citigroup maintains a "buy" rating, while BNP Paribas has upgraded Michelin to a "hold" rating.
• The company's current ratios suggest a stable financial position, with a debt-to-equity ratio of 0.04.

Michelin (OTCMKTS:MGDDY - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $15.58 and last traded at $15.59, with a volume of 381893 shares trading hands. The stock had previously closed at $17.08.

Wall Street Analyst Weigh In

Several brokerages recently commented on MGDDY. Citigroup restated a "buy" rating on shares of Michelin in a research report on Friday. BNP Paribas upgraded Michelin to a "hold" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Michelin presently has an average rating of "Moderate Buy".

Michelin Stock Performance

The firm has a fifty day simple moving average of $18.17 and a 200-day simple moving average of $18.22. The company has a quick ratio of 1.12, a current ratio of 1.80 and a debt-to-equity ratio of 0.04.

About Michelin

Compagnie Générale des Établissements Michelin SCA engages in the manufacture, distribution and sale of tires. Its products and services include tires, mobility services, lifestyle products, Michelin solutions and Michelin engineering and services. The company operates through the following segments: Passenger car and Light truck tires and related distribution, Truck tires and related distribution, and Specialty businesses.

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