Hyster-Yale Materials Handling (NYSE:HY) Given Buy Rating at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Hyster-Yale Materials Handling (NYSE:HY) in a research report report published on Thursday morning, Benzinga reports. Roth Mkm currently has a $84.00 target price on the industrial products company’s stock, down from their prior target price of $87.00.

A number of other analysts have also recently commented on the stock. Northland Capmk cut shares of Hyster-Yale Materials Handling from a strong-buy rating to a hold rating in a research note on Wednesday. Northland Securities upgraded Hyster-Yale Materials Handling from a market perform rating to an outperform rating and set a $90.00 price objective for the company in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $87.00.

Hyster-Yale Materials Handling Price Performance

HY stock traded down $0.40 during mid-day trading on Thursday, reaching $60.10. 95,534 shares of the company’s stock were exchanged, compared to its average volume of 100,797. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.25 and a quick ratio of 0.56. Hyster-Yale Materials Handling has a 12-month low of $38.50 and a 12-month high of $84.44. The stock’s 50 day moving average is $71.71 and its 200 day moving average is $67.61. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 6.90 and a beta of 1.35.

Hyster-Yale Materials Handling (NYSE:HY) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $1.30. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.08 billion. Hyster-Yale Materials Handling had a return on equity of 42.94% and a net margin of 3.61%. During the same quarter last year, the firm posted $2.21 EPS. On average, research analysts expect that Hyster-Yale Materials Handling will post 8.3 EPS for the current year.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings in shares of Hyster-Yale Materials Handling by 8.0% in the second quarter. Renaissance Technologies LLC now owns 50,100 shares of the industrial products company’s stock valued at $3,493,000 after purchasing an additional 3,700 shares during the period. American Century Companies Inc. boosted its holdings in Hyster-Yale Materials Handling by 149.8% in the 2nd quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock valued at $10,546,000 after purchasing an additional 90,696 shares during the last quarter. Chesapeake Capital Corp IL purchased a new stake in shares of Hyster-Yale Materials Handling in the 2nd quarter valued at approximately $359,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Hyster-Yale Materials Handling during the 2nd quarter worth approximately $194,000. Finally, Quest Partners LLC raised its position in shares of Hyster-Yale Materials Handling by 6,692.3% during the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock valued at $62,000 after buying an additional 870 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Materials Handling Company Profile

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