Rating Reporting: Goldman Sachs Says Its Time To Downgrade Bridgestone (OTCMKTS:BRDCY)

November 30, 2016 - By Louis Casey

Rating Reporting: Goldman Sachs Says Its Time To Downgrade Bridgestone (OTCMKTS:BRDCY)

Bridgestone (OTCMKTS:BRDCY) Downgrade

Bridgestone (OTCMKTS:BRDCY) was lowered by research analysts at Goldman Sachs from a Buy rating to a Neutral rating in a note sent to investors on Wednesday, 30 November.

The stock decreased 1.08% or $0.21 on November 30, hitting $19.15. About 109,955 shares traded hands or 98.36% up from the average. Bridgestone Corp (ADR) (OTCMKTS:BRDCY) has risen 0.68% since April 27, 2016 and is uptrending. It has underperformed by 4.55% the S&P500.

Analysts await Bridgestone Corp (ADR) (OTCMKTS:BRDCY) to report earnings on February, 15.

Bridgestone Corporation is engaged in developing, manufacturing and marketing tires and diversified products. The company has a market cap of $30.84 billion. The Firm operates through two divisions: Tires and Diversified Products. It has a 12.4 P/E ratio. The Company’s Tires segment offers tires for passenger cars, trucks, buses, motorcycles, construction and mining vehicles, aircraft, and motor cycles, as well as tubes, wheels and related accessories.

According to Zacks Investment Research, “Bridgestone is involved in the Automotive Industry. Their printing system allows for the real time, on-site creation of vehicle registration forms and license decals on blank stock, including the imprinting of the vehicle license plate number on the decal. This on-demand printing capability allows Departments of Motor Vehicles to substantially reduce fraud and theft, increase revenue collection, and reduce personnel, inventory, and facility costs as a result of increased efficiencies.”

BRDCY Company Profile

Bridgestone Corporation, incorporated on March 1, 1931, is engaged in developing, manufacturing and marketing tires and diversified products. The Firm operates through two divisions: Tires and Diversified Products. The Firm has over 170 manufacturing plants in approximately 30 countries around the world. It sells products in over 150 countries across the world.

More notable recent Bridgestone Corp (ADR) (OTCMKTS:BRDCY) news were published by: Bidnessetc.com which released: “Pep Boys: Bridgestone May Trump Icahn Enterprises (IEP) Again” on December 29, 2015, also Fool.com with their article: “Bridgestone Bows Out of the Pep Boys Bidding War” published on January 05, 2016, Fool.com published: “Instant Analysis: Bridgestone Matches Icahn Offer for Pep Boys” on December 14, 2015. More interesting news about Bridgestone Corp (ADR) (OTCMKTS:BRDCY) were released by: Fool.com and their article: “Is the Bidding War for Pep Boys Finally Over?” published on December 23, 2015 as well as Forbes.com‘s news article titled: “Global Stocks With Growing Dividends: Japan” with publication date: November 05, 2015.

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