Michelin (OTCMKTS:MGDDY) Upgraded to Hold at Zacks Research

Michelin (OTCMKTS:MGDDY) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also issued reports on the stock. Oddo Bhf lowered shares of Michelin to a “neutral” rating in a research report on Tuesday, October 14th. Citigroup reiterated a “buy” rating on shares of Michelin in a report on Friday, October 10th. Morgan Stanley reiterated an “equal weight” rating on shares of Michelin in a research report on Tuesday, December 2nd. Finally, UBS Group downgraded Michelin from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Michelin Trading Down 0.7%

MGDDY stock opened at $16.40 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.80 and a quick ratio of 1.12. Michelin has a one year low of $14.82 and a one year high of $20.00. The firm has a 50 day simple moving average of $16.19 and a two-hundred day simple moving average of $17.55.

Michelin Company Profile

Michelin (OTCMKTS: MGDDY) is a French multinational tire manufacturer founded in 1889 and headquartered in Clermont-Ferrand, France. Over more than a century the company has grown into one of the world’s leading tiremakers, serving passenger car, truck, motorcycle, bicycle, agricultural, construction and aviation markets. Michelin has a global footprint with manufacturing facilities, research centers and commercial operations across multiple regions to supply OEMs, replacement markets and large commercial fleets.

The company’s core business is the design, manufacture and sale of tires and related products.