Zacks Investment Research downgraded shares of Michelin (OTCMKTS:MGDDY) from a buy rating to a hold rating in a report released on Saturday.

According to Zacks, “Compagnie Generale des Etablissements Michelin manufactures and sells tires for all kinds of vehicles, publishes maps and guides and operates a number of digital services. It manufactures and sells tires for cars, two-wheel vehicles, trucks, construction machinery, tractors and aircrafts. It also sells various car and bicycle accessories like pumps, manometers bicycle helmets, hubcaps, replacement components for tires and transport accessories. Other products sold by the company include protective clothing, table tennis rackets, shoe insoles along with many other items designed for road users. Compagnie Generale des Etablissements Michelin is based in Clermont-Ferrand, France. “

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Separately, Morgan Stanley downgraded Michelin from an overweight rating to an equal weight rating in a report on Friday, March 23rd.

OTCMKTS:MGDDY opened at $29.39 on Friday. Michelin has a 52 week low of $23.35 and a 52 week high of $32.26.

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Michelin Company Profile

Compagnie Générale des Établissements Michelin manufactures, distributes, and sells tires worldwide. The company operates through three segments: Passenger Car and Light Truck Tires and Related Distribution; Truck Tires and Related Distribution; and Specialty Businesses. It offers tires for cars, vans, trucks, buses, farm machinery, earthmovers, mining and handling equipment, tramways, metros, aircraft, motorcycles, scooters, and bicycles.

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