BidaskClub Downgrades Sun Hydraulics Corporation (SNHY) to Hold
Sun Hydraulics Corporation (NASDAQ:SNHY) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Saturday.
Other equities analysts have also issued reports about the company. TheStreet raised Sun Hydraulics Corporation from a “c” rating to a “b” rating in a report on Monday, May 8th. Zacks Investment Research raised Sun Hydraulics Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Saturday, May 13th.
Shares of Sun Hydraulics Corporation (NASDAQ SNHY) traded up 0.14% during trading on Friday, reaching $43.25. The company’s stock had a trading volume of 158,630 shares. Sun Hydraulics Corporation has a 52-week low of $27.69 and a 52-week high of $44.82. The stock has a 50-day moving average of $41.98 and a 200-day moving average of $38.86. The stock has a market cap of $1.17 billion, a P/E ratio of 46.01 and a beta of 1.80.
Sun Hydraulics Corporation (NASDAQ:SNHY) last posted its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. Sun Hydraulics Corporation had a return on equity of 10.57% and a net margin of 11.14%. The firm had revenue of $81.40 million during the quarter, compared to analyst estimates of $75.49 million. During the same period last year, the company earned $0.31 earnings per share. The business’s revenue for the quarter was up 59.6% on a year-over-year basis. Analysts predict that Sun Hydraulics Corporation will post $1.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Friday, June 30th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Wednesday, June 28th. Sun Hydraulics Corporation’s payout ratio is currently 37.90%.
COPYRIGHT VIOLATION NOTICE: “BidaskClub Downgrades Sun Hydraulics Corporation (SNHY) to Hold” was first reported by Financial Market News and is the sole property of of Financial Market News. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://www.financial-market-news.com/2017/06/17/bidaskclub-downgrades-sun-hydraulics-corporation-snhy-to-hold.html.
In other news, Director Christine L. Koski sold 5,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $44.01, for a total value of $220,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine L. Koski sold 24,300 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $43.14, for a total value of $1,048,302.00. The disclosure for this sale can be found here. Insiders sold 226,000 shares of company stock valued at $9,341,598 over the last ninety days. Corporate insiders own 10.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in Sun Hydraulics Corporation during the fourth quarter valued at about $227,000. State Street Corp raised its stake in Sun Hydraulics Corporation by 8.0% in the fourth quarter. State Street Corp now owns 410,237 shares of the industrial products company’s stock valued at $16,398,000 after buying an additional 30,367 shares in the last quarter. Renaissance Technologies LLC raised its stake in Sun Hydraulics Corporation by 3.4% in the fourth quarter. Renaissance Technologies LLC now owns 636,600 shares of the industrial products company’s stock valued at $25,445,000 after buying an additional 21,000 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Sun Hydraulics Corporation by 14.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,483 shares of the industrial products company’s stock valued at $419,000 after buying an additional 1,288 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new stake in Sun Hydraulics Corporation during the fourth quarter valued at about $150,000. 78.70% of the stock is owned by institutional investors.
About Sun Hydraulics Corporation
Sun Hydraulics Corporation (Sun) develops and manufactures solutions for the hydraulics and electronics markets. It is engaged in power controls and vehicle technologies lines of business. The Company operates through two segments including hydraulics and electronics. Hydraulics market segment is engaged in manufacturing of screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the worldwide industrial and mobile hydraulics markets operating under the brand Sun Hydraulics.
Receive News & Ratings for Sun Hydraulics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Hydraulics Corporation and related companies with MarketBeat.com's FREE daily email newsletter.