Berenberg Bank Initiates Coverage on Michelin (OTCMKTS:MGDDY)

Analysts at Berenberg Bank began coverage on shares of Michelin (OTCMKTS:MGDDY) in a report released on Tuesday. The brokerage set a “hold” rating on the stock.

Other equities research analysts have also issued research reports about the company. Oddo Bhf lowered Michelin to a “neutral” rating in a research report on Tuesday, October 14th. UBS Group cut Michelin from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 2nd. Citigroup reaffirmed a “buy” rating on shares of Michelin in a research note on Friday, October 10th. Zacks Research upgraded shares of Michelin from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Michelin in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold”.

Michelin Stock Down 1.2%

Michelin stock traded down $0.21 during mid-day trading on Tuesday, hitting $17.42. 68,580 shares of the company’s stock were exchanged, compared to its average volume of 161,081. The company’s 50 day simple moving average is $16.44 and its 200-day simple moving average is $17.39. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.12 and a current ratio of 1.80. Michelin has a fifty-two week low of $14.82 and a fifty-two week high of $20.00.

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.