Michelin (OTCMKTS:MGDDY) Upgraded by Barclays to Equal Weight Rating

Barclays upgraded shares of Michelin (OTCMKTS:MGDDY) from an underweight rating to an equal weight rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports.

A number of other equities analysts have also recently issued reports on the stock. Zacks Research lowered shares of Michelin from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Berenberg Bank initiated coverage on shares of Michelin in a report on Tuesday, January 13th. They issued a “hold” rating on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of Michelin in a report on Thursday, January 29th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Michelin Stock Up 0.9%

OTCMKTS:MGDDY opened at $17.97 on Tuesday. Michelin has a one year low of $14.82 and a one year high of $20.48. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $18.30 and a 200 day moving average price of $17.32.

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.