Michelin (OTCMKTS:MGDDY) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Michelin (OTCMKTS:MGDDY) from a hold rating to a strong sell rating in a research report released on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on MGDDY. Barclays raised shares of Michelin from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, April 14th. Berenberg Bank started coverage on shares of Michelin in a research report on Tuesday, January 13th. They issued a “hold” rating for the company. Finally, Citigroup reissued a “buy” rating on shares of Michelin in a research report on Thursday, January 29th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Michelin presently has an average rating of “Hold”.

Michelin Stock Down 1.0%

Shares of MGDDY stock opened at $18.75 on Wednesday. Michelin has a 52-week low of $14.82 and a 52-week high of $20.48. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The company has a 50-day simple moving average of $17.90 and a two-hundred day simple moving average of $17.48.

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.