Michelin (OTCMKTS:MGDDY) Rating Increased to Strong-Buy at Zacks Research

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

MGDDY has been the topic of several other reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of Michelin in a research report on Tuesday, December 2nd. Berenberg Bank assumed coverage on Michelin in a report on Tuesday, January 13th. They issued a “hold” rating on the stock. UBS Group cut Michelin from a “buy” rating to a “neutral” rating in a report on Tuesday, December 2nd. Citigroup restated a “buy” rating on shares of Michelin in a report on Thursday, January 29th. Finally, Oddo Bhf downgraded shares of Michelin to a “neutral” rating in a research note on Tuesday, October 14th. 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. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Michelin Trading Down 1.3%

OTCMKTS:MGDDY opened at $20.12 on Wednesday. The firm’s 50 day moving average is $17.53 and its two-hundred day moving average is $17.39. Michelin has a fifty-two week low of $14.82 and a fifty-two week high of $20.38. 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.