Sidoti Initiates Coverage on Sun Hydraulics (SNHY)
Investment analysts at Sidoti started coverage on shares of Sun Hydraulics (NASDAQ:SNHY) in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Shares of Sun Hydraulics (NASDAQ:SNHY) traded down 1.13% during mid-day trading on Wednesday, hitting $39.30. The stock had a trading volume of 10,953 shares. Sun Hydraulics has a one year low of $30.49 and a one year high of $46.38. The stock’s 50-day moving average is $38.9 and its 200-day moving average is $39.99. The company has a market cap of $1.040 billion and a P/E ratio of 26.13.
Sun Hydraulics (NASDAQ:SNHY) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.46 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.46. The company had revenue of $61.05 million for the quarter, compared to the consensus estimate of $60.95 million. During the same quarter last year, the company posted $0.45 earnings per share. Sun Hydraulics’s revenue was up 9.4% compared to the same quarter last year. Analysts expect that Sun Hydraulics will post $1.63 EPS for the current fiscal year.
Separately, analysts at Robert W. Baird raised their price target on shares of Sun Hydraulics from $44.00 to $46.00 in a research note on Tuesday, July 15th.
Sun Hydraulics Corporation (NASDAQ:SNHY) designs, manufactures, and sells screw-in cartridge valves and manifolds used in hydraulic systems.
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