Zacks Research Upgrades Michelin (OTCMKTS:MGDDY) to “Strong-Buy”

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

MGDDY has been the topic of several other research reports. UBS Group cut Michelin from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 2nd. Oddo Bhf downgraded Michelin to a “neutral” rating in a report on Tuesday, October 14th. Morgan Stanley reiterated an “equal weight” rating on shares of Michelin in a research note on Tuesday, December 2nd. Berenberg Bank initiated coverage on shares of Michelin in a research report on Tuesday, January 13th. They set a “hold” rating for the company. Finally, Citigroup restated a “buy” rating on shares of Michelin in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Michelin Trading Down 1.3%

Shares of MGDDY stock opened at $20.12 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.12 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $17.53 and its two-hundred day moving average price is $17.39. Michelin has a 12 month low of $14.82 and a 12 month high of $20.38.

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.