Zacks Research Upgrades Michelin (OTCMKTS:MGDDY) to Hold

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

MGDDY has been the subject of several other research reports. Citigroup reaffirmed a “buy” rating on shares of Michelin in a research report on Friday, October 10th. Oddo Bhf lowered shares of Michelin to a “neutral” rating in a research report on Tuesday, October 14th. UBS Group lowered Michelin from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Michelin in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Michelin Stock Down 0.7%

Shares of MGDDY opened at $16.40 on Monday. The firm’s 50 day moving average is $16.19 and its 200-day moving average is $17.55. Michelin has a 12 month low of $14.82 and a 12 month high of $20.00. The company has a quick ratio of 1.12, a current ratio of 1.80 and a debt-to-equity ratio of 0.04.

About Michelin

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.