Mitsubishi Electric (OTCMKTS:MIELY) Stock Rating Upgraded by Zacks Research

Mitsubishi Electric (OTCMKTS:MIELY) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Mitsubishi Electric Stock Down 3.7%

Mitsubishi Electric stock traded down $2.71 during trading on Tuesday, hitting $70.30. The stock had a trading volume of 200,149 shares, compared to its average volume of 141,915. The stock’s 50 day moving average is $67.04 and its two-hundred day moving average is $58.21. Mitsubishi Electric has a 1 year low of $30.89 and a 1 year high of $78.69. The stock has a market cap of $74.28 billion, a price-to-earnings ratio of 66.32 and a beta of 0.52.

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.