Hyster-Yale Materials Handling (NYSE:HY) Price Target Raised to $66.00 at Sidoti

Hyster-Yale Materials Handling (NYSE:HY) had its target price hoisted by stock analysts at Sidoti from $59.00 to $66.00 in a research report issued on Friday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the industrial products company’s stock. Sidoti’s price target suggests a potential upside of 23.53% from the stock’s previous close.

Shares of NYSE HY opened at $53.43 on Friday. The firm’s 50-day simple moving average is $51.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.38 and a quick ratio of 0.69. The stock has a market cap of $889.88 million, a PE ratio of 49.93 and a beta of 1.43. Hyster-Yale Materials Handling has a 12-month low of $43.26 and a 12-month high of $76.79.

Hyster-Yale Materials Handling (NYSE:HY) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.14. The firm had revenue of $834.80 million for the quarter, compared to analysts’ expectations of $833.70 million. Hyster-Yale Materials Handling had a net margin of 0.72% and a return on equity of 3.09%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS.

In other Hyster-Yale Materials Handling news, Chairman Alfred M. Et Al Rankin bought 1,080 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were purchased at an average cost of $64.99 per share, for a total transaction of $70,189.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Alfred M. Et Al Rankin bought 5,586 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $49.81 per share, for a total transaction of $278,238.66. The disclosure for this purchase can be found here. Insiders have bought a total of 25,202 shares of company stock worth $1,317,902 over the last 90 days. Corporate insiders own 28.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Hyster-Yale Materials Handling in the 1st quarter worth about $118,000. Investors Research Corp purchased a new stake in Hyster-Yale Materials Handling in the 1st quarter worth about $137,000. BNP Paribas Arbitrage SA raised its position in Hyster-Yale Materials Handling by 201.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,327 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 1,555 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Hyster-Yale Materials Handling by 401.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,479 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 2,785 shares during the period. Finally, Citigroup Inc. raised its position in Hyster-Yale Materials Handling by 12.8% in the 4th quarter. Citigroup Inc. now owns 3,482 shares of the industrial products company’s stock worth $216,000 after purchasing an additional 394 shares during the period. Hedge funds and other institutional investors own 46.47% of the company’s stock.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. The company markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.

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