Sun Hydraulics (SNHY) Downgraded by BidaskClub to “Hold”

Sun Hydraulics (NASDAQ:SNHY) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday.

A number of other equities analysts have also recently issued reports on the stock. SunTrust Banks boosted their price objective on shares of Sun Hydraulics to $62.00 and gave the company a “positive” rating in a research report on Thursday, October 4th. Robert W. Baird upgraded shares of Sun Hydraulics from a “neutral” rating to an “outperform” rating and set a $55.00 price objective on the stock in a research report on Thursday, September 20th. Finally, Zacks Investment Research upgraded shares of Sun Hydraulics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $60.83.

Shares of NASDAQ:SNHY opened at $51.10 on Tuesday. The firm has a market capitalization of $1.73 billion, a P/E ratio of 31.94 and a beta of 1.68. Sun Hydraulics has a 52 week low of $45.44 and a 52 week high of $70.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78.

Sun Hydraulics (NASDAQ:SNHY) last issued its earnings results on Tuesday, August 7th. The industrial products company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.12). The business had revenue of $136.20 million during the quarter, compared to analysts’ expectations of $139.80 million. Sun Hydraulics had a return on equity of 11.79% and a net margin of 8.08%. Sun Hydraulics’s revenue for the quarter was up 52.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. As a group, equities analysts forecast that Sun Hydraulics will post 1.81 earnings per share for the current fiscal year.

In other Sun Hydraulics news, CFO Tricia L. Fulton sold 7,500 shares of the business’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $54.21, for a total value of $406,575.00. Following the transaction, the chief financial officer now owns 62,091 shares in the company, valued at $3,365,953.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine L. Koski sold 22,500 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $51.21, for a total transaction of $1,152,225.00. The disclosure for this sale can be found here. Insiders sold 104,601 shares of company stock worth $5,620,982 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Sun Hydraulics during the 1st quarter valued at about $100,000. Amalgamated Bank bought a new stake in shares of Sun Hydraulics during the 2nd quarter valued at about $211,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sun Hydraulics during the 1st quarter valued at about $268,000. Xact Kapitalforvaltning AB boosted its stake in shares of Sun Hydraulics by 69.7% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,358 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 2,200 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in shares of Sun Hydraulics during the 1st quarter valued at about $291,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

About Sun Hydraulics

Helios Technologies designs, manufactures, and sells screw-in hydraulic cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems worldwide. The company operates through two segments, Hydraulics and Electronics. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems.

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Analyst Recommendations for Sun Hydraulics (NASDAQ:SNHY)

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