Michelin (OTCMKTS:MGDDY) Sets New 52-Week High Following Analyst Upgrade

Michelin (OTCMKTS:MGDDY) hit a new 52-week high on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $20.00 and last traded at $20.00, with a volume of 73714 shares traded. The stock had previously closed at $19.42.

Several other equities research analysts have also weighed in on the company. UBS Group lowered Michelin from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 2nd. Morgan Stanley reissued an “equal weight” rating on shares of Michelin in a research report on Tuesday, December 2nd. Citigroup reissued a “buy” rating on shares of Michelin in a research note on Thursday, January 29th. Berenberg Bank began coverage on Michelin in a research report on Tuesday, January 13th. They set a “hold” rating on the stock. Finally, Oddo Bhf cut Michelin to a “neutral” rating in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Michelin currently has an average rating of “Moderate Buy”.

Michelin Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.12 and a current ratio of 1.80. The stock has a 50 day moving average price of $17.61 and a two-hundred day moving average price of $17.40.

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.