Michelin (OTCMKTS:MGDDY) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Michelin (OTCMKTS:MGDDY) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Citigroup reiterated a “buy” rating on shares of Michelin in a research report on Thursday, January 29th. Berenberg Bank started coverage on shares of Michelin in a research report on Tuesday, January 13th. They issued a “hold” rating on the stock. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Michelin has a consensus rating of “Hold”.

Michelin Stock Performance

Shares of OTCMKTS:MGDDY opened at $17.75 on Tuesday. The company’s fifty day moving average is $18.37 and its 200 day moving average is $17.33. Michelin has a 52 week low of $14.82 and a 52 week 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.

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.