Michelin (OTCMKTS:MGDDY) Hits New 12-Month Low - What's Next?

Key Points

• Michelin's share price fell to a new 52-week low of $14.90, marking a significant drop from its previous close of $16.10 during mid-day trading.
• Analysts are divided on Michelin's outlook, with ratings ranging from "strong sell" to "buy," but the consensus rating is currently a "hold."
• The company's financial metrics indicate a relatively low debt-to-equity ratio of 0.04, signaling limited leverage compared to equity.

Michelin (OTCMKTS:MGDDY - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $14.90 and last traded at $14.90, with a volume of 225310 shares trading hands. The stock had previously closed at $16.10.

Wall Street Analysts Forecast Growth

MGDDY has been the topic of a number of recent research reports. Zacks Research lowered Michelin from a "hold" rating to a "strong sell" rating in a research report on Tuesday, October 14th. Oddo Bhf lowered Michelin to a "neutral" rating in a research report on Tuesday, October 14th. BNP Paribas raised Michelin to a "hold" rating in a research report on Thursday, July 10th. Finally, Citigroup reissued a "buy" rating on shares of Michelin in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold".

Michelin Trading Down 7.8%

The business has a 50 day moving average price of $17.87 and a 200-day moving average price of $18.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.12 and a current ratio of 1.80.

Michelin Company Profile

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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