Mitsubishi Heavy Industries (OTCMKTS:MHVYF) Shares Gap Up – Time to Buy?

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) gapped up before the market opened on Thursday. The stock had previously closed at $24.40, but opened at $26.6099. Mitsubishi Heavy Industries shares last traded at $24.40, with a volume of 77,784 shares changing hands.

Analysts Set New Price Targets

MHVYF has been the topic of a number of analyst reports. Sanford C. Bernstein started coverage on shares of Mitsubishi Heavy Industries in a report on Tuesday, September 15th. They issued an “outperform” rating on the stock. UBS Group upgraded Mitsubishi Heavy Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Mitsubishi Heavy Industries Price Performance

The company has a current ratio of 1.26, a quick ratio of 0.98 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $84.00 billion, a PE ratio of 32.76 and a beta of 0.51. The business has a 50-day moving average of $24.80 and a 200 day moving average of $25.97.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF) last announced its earnings results on Tuesday, August 4th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.15 by $0.09. Mitsubishi Heavy Industries had a net margin of 7.04% and a return on equity of 12.97%. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.09 billion.

Institutional Investors Weigh In On Mitsubishi Heavy Industries

A hedge fund recently bought a new position in Mitsubishi Heavy Industries stock. McMillan Office Inc. bought a new position in shares of Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,000 shares of the company’s stock, valued at approximately $28,000.

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries, Ltd. is a Japan-based industrial group that develops and supplies large-scale equipment, systems and engineering services for customers worldwide. Its businesses support energy, infrastructure, transportation, aerospace and defense applications.

The company’s products and services include gas turbines, steam turbines, boilers, power-generation systems, carbon-management and other energy technologies. Mitsubishi Heavy Industries also provides machinery and systems for chemical plants, environmental facilities, logistics and transportation, including material-handling equipment and air-conditioning systems.

In aerospace and defense, the group is involved in commercial aircraft components, launch vehicles, space systems, missile and naval equipment, and other defense-related products.