Michelin (OTCMKTS:MGDDY) Raised to Equal Weight at Barclays

Key Points

• Barclays upgraded Michelin (OTCMKTS:MGDDY) from an "underweight" rating to an "equal weight" in a research note issued Tuesday.
• Analyst consensus is currently a Hold (one Buy and seven Hold); recent activity includes Berenberg initiating coverage at Hold, Citigroup reissuing a Buy, and Zacks downgrading to Hold.
• Shares opened at $17.81 (down 0.1%), with a 50-day SMA of $18.32, 200-day SMA of $17.32 and a 52-week range of $14.82–$20.48; the company shows solid liquidity (quick ratio 1.22, current ratio 1.90) and very low leverage (debt/equity 0.04).

Michelin (OTCMKTS:MGDDY - Get Free Report) was upgraded by investment analysts at Barclays from an "underweight" rating to an "equal weight" rating in a research note issued on Tuesday.

A number of other equities analysts have also recently commented on MGDDY. Berenberg Bank assumed coverage on Michelin in a report on Tuesday, January 13th. They set a "hold" rating for the company. Citigroup reissued a "buy" rating on shares of Michelin in a research report on Thursday, January 29th. Finally, Zacks Research lowered Michelin from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Michelin currently has a consensus rating of "Hold".

Michelin Trading Down 0.1%

Shares of Michelin stock opened at $17.81 on Tuesday. The business's fifty day simple moving average is $18.32 and its 200-day simple moving average is $17.32. 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.

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.

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