Bridgestone (OTCMKTS:BRDCY) Shares Gap Up – Time to Buy?

Bridgestone Corp. (OTCMKTS:BRDCY) shares gapped up before the market opened on Monday. The stock had previously closed at $12.1590, but opened at $12.6799. Bridgestone shares last traded at $12.13, with a volume of 51,379 shares.

Analysts Set New Price Targets

BRDCY has been the subject of a number of recent research reports. Sanford C. Bernstein cut shares of Bridgestone from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group lowered shares of Bridgestone from a “strong-buy” rating to a “neutral” rating in a report on Wednesday, June 17th. Finally, Zacks Research upgraded Bridgestone from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Bridgestone Price Performance

The company’s fifty day moving average is $12.43 and its two-hundred day moving average is $11.24. The company has a quick ratio of 1.83, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $31.24 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.07 and a beta of 0.54.

About Bridgestone

Bridgestone Corporation is a Japan-based manufacturer of tires and rubber-related products. The company produces tires for passenger cars, trucks and buses, motorcycles, aircraft, agricultural equipment, construction and mining vehicles, and other specialized applications. Its portfolio includes the Bridgestone and Firestone brands, as well as other regional and specialty brands.

In addition to replacement and original-equipment tires, Bridgestone provides automotive and commercial mobility solutions, tire-related services, fleet support, and systems designed to help customers monitor and manage tire performance.