Michelin (OTCMKTS:MGDDY) Upgraded at Zacks Research

Zacks Research upgraded shares of Michelin (OTCMKTS:MGDDY) from a hold rating to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on MGDDY. Berenberg Bank started coverage on shares of Michelin in a research report on Tuesday, January 13th. They set a “hold” rating for the company. Oddo Bhf lowered shares of Michelin to a “neutral” rating in a report on Tuesday, October 14th. UBS Group cut shares of 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 report on Thursday, January 29th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Michelin in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Michelin Price Performance

Shares of MGDDY opened at $20.40 on Wednesday. Michelin has a 52-week low of $14.82 and a 52-week high of $20.48. The stock has a fifty day simple moving average of $17.61 and a two-hundred day simple moving average of $17.40. 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.