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.
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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