Michelin (OTCMKTS:MGDDY) Cut to “Hold” at Zacks Research

Michelin (OTCMKTS:MGDDY) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

MGDDY has been the subject of a number of other research reports. Berenberg Bank began coverage on shares of Michelin in a report on Tuesday, January 13th. They set a “hold” rating for the company. Citigroup restated a “buy” rating on shares of Michelin in a report on Thursday, January 29th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Michelin Stock Performance

Shares of OTCMKTS MGDDY opened at $17.75 on Tuesday. The firm has a 50 day moving average price of $18.37 and a 200 day moving average price of $17.33. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.90. Michelin has a 52-week low of $14.82 and a 52-week high of $20.48.

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.