Michelin (OTCMKTS:MGDDY) Downgraded by Barclays to Strong Sell

Barclays cut shares of Michelin (OTCMKTS:MGDDY) from a hold rating to a strong sell rating in a research report sent to investors on Thursday morning,Zacks reports.

Several other brokerages have also issued reports on MGDDY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Michelin in a report on Tuesday, July 28th. Citigroup restated a “buy” rating on shares of Michelin in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold”.

Michelin Price Performance

Shares of MGDDY stock opened at $18.60 on Thursday. Michelin has a fifty-two week low of $15.35 and a fifty-two week high of $20.57. The stock’s 50-day moving average is $18.86 and its two-hundred day moving average is $18.83. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.04.

Michelin Company Profile

Michelin is a France-based global manufacturer best known for designing, producing and distributing tires. Its products serve passenger cars, motorcycles, trucks, buses, aircraft, agricultural equipment, mining vehicles, construction machinery and other specialized applications. The company also provides tire-related services, fleet solutions and digital tools intended to support mobility, safety and operational efficiency.

Founded in 1889 by brothers André and Édouard Michelin in Clermont-Ferrand, France, Michelin has expanded from a regional tire maker into an international mobility company.