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Michelin (OTCMKTS:MGDDY) Shares Gap Up - Here's What Happened

Michelin logo with Auto/Tires/Trucks background

Key Points

  • Michelin shares experienced a significant gap up, opening at $16.08 after previously closing at $14.84.
  • Analyst ratings on Michelin are mixed, with one upgrade to "hold", while Zacks Research downgraded it to a "strong sell," resulting in an average rating of "hold".
  • The stock is trading below its 50-day moving average of $17.79 and 200-day moving average of $18.12, indicating potential underperformance.
  • Interested in Michelin? Here are five stocks we like better.

Michelin (OTCMKTS:MGDDY - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $14.84, but opened at $16.08. Michelin shares last traded at $16.05, with a volume of 16,795 shares trading hands.

Analysts Set New Price Targets

MGDDY has been the topic of several analyst reports. Zacks Research cut Michelin from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 14th. BNP Paribas upgraded Michelin to a "hold" rating in a research note on Thursday, July 10th. Oddo Bhf cut Michelin to a "neutral" rating in a research note on Tuesday, October 14th. Finally, Citigroup restated a "buy" rating on shares of Michelin in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Michelin currently has an average rating of "Hold".

Read Our Latest Research Report on MGDDY

Michelin Stock Performance

The stock has a 50-day moving average price of $17.79 and a 200 day moving average price of $18.12. The company has a current ratio of 1.80, a quick ratio of 1.12 and a debt-to-equity ratio of 0.04.

About Michelin

(Get Free Report)

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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