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

Key Points

• Zacks downgraded Michelin (OTCMKTS:MGDDY) from a "strong-buy" to a "hold" in a research note issued Tuesday, signaling a pullback in that firm's bullish stance.
• Analyst consensus remains muted with one Buy and six Hold ratings—giving Michelin an average rating of Hold—while Citigroup maintains a Buy and Berenberg started coverage at Hold.
• Shares rose about 3.4% to open at $17.75; the company shows low leverage (debt-to-equity 0.04) and a 52‑week range of $14.82–$20.48.

Michelin (OTCMKTS:MGDDY - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on MGDDY. Citigroup reissued a "buy" rating on shares of Michelin in a research note on Thursday, January 29th. Berenberg Bank began coverage on shares of Michelin in a research note on Tuesday, January 13th. They set a "hold" rating for the company. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Michelin presently has an average rating of "Hold".

Michelin Stock Up 3.4%

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

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