Mitsubishi Electric (OTCMKTS:MIELY) Rating Lowered to “Hold” at Zacks Research

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

Separately, UBS Group upgraded shares of Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Mitsubishi Electric Trading Up 12.2%

Mitsubishi Electric stock opened at $85.10 on Monday. Mitsubishi Electric has a 1 year low of $37.52 and a 1 year high of $86.00. The company has a market cap of $89.92 billion, a PE ratio of 80.28 and a beta of 0.58. The company’s 50-day moving average is $71.39 and its two-hundred day moving average is $63.70.

About Mitsubishi Electric

Mitsubishi Electric Corporation (OTCMKTS: MIELY) is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.

The company’s product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.