Zacks Investment Research cut shares of Sumitomo Heavy Industries, Ltd. (NASDAQ:SOHVY) from a hold rating to a sell rating in a research note released on Friday.

According to Zacks, “Sumitomo Heavy Industries, Ltd. manufactures and markets heavy machinery. The Company’s operations include heavy machinery, shipbuilding, mass-production machinery, environmental equipment, and construction machinery divisions. Sumitomo Heavy Industries, Ltd. is headquartered in Tokyo, Japan. “

Shares of Sumitomo Heavy Industries (NASDAQ:SOHVY) opened at 36.83 on Friday. Sumitomo Heavy Industries has a 12-month low of $24.15 and a 12-month high of $37.22. The firm has a market capitalization of $4.51 billion and a P/E ratio of 13.39. The stock has a 50 day moving average price of $35.04 and a 200 day moving average price of $32.76.

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