Hyster-Yale Materials Handling Inc (HY) Stock Rating Upgraded by Seaport Global Securities
Hyster-Yale Materials Handling Inc (NYSE:HY) was upgraded by investment analysts at Seaport Global Securities to a “neutral” rating in a research note issued on Thursday, The Fly reports. The analysts noted that the move was a valuation call.
Separately, Zacks Investment Research raised shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Saturday, March 4th.
Shares of Hyster-Yale Materials Handling (NYSE:HY) opened at 55.49 on Thursday. Hyster-Yale Materials Handling has a 12 month low of $47.25 and a 12 month high of $70.19. The stock has a market cap of $909.76 million, a PE ratio of 21.26 and a beta of 1.05. The firm’s 50-day moving average is $57.02 and its 200 day moving average is $60.58.
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Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings data on Tuesday, February 28th. The industrial products company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.13. Hyster-Yale Materials Handling had a return on equity of 9.95% and a net margin of 1.89%. The business earned $690.60 million during the quarter, compared to analysts’ expectations of $698.77 million. During the same period last year, the company earned $1.05 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Hyster-Yale Materials Handling will post $3.25 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new stake in Hyster-Yale Materials Handling during the second quarter valued at approximately $133,000. Acadian Asset Management LLC raised its stake in Hyster-Yale Materials Handling by 77.4% in the second quarter. Acadian Asset Management LLC now owns 3,002 shares of the industrial products company’s stock valued at $179,000 after buying an additional 1,310 shares during the last quarter. Royal Bank of Canada raised its stake in Hyster-Yale Materials Handling by 1,624.0% in the second quarter. Royal Bank of Canada now owns 3,517 shares of the industrial products company’s stock valued at $209,000 after buying an additional 3,313 shares during the last quarter. Aperio Group LLC raised its stake in Hyster-Yale Materials Handling by 9.2% in the third quarter. Aperio Group LLC now owns 3,751 shares of the industrial products company’s stock valued at $226,000 after buying an additional 316 shares during the last quarter. Finally, Menta Capital LLC purchased a new stake in Hyster-Yale Materials Handling during the fourth quarter valued at approximately $274,000. 68.99% of the stock is owned by institutional investors and hedge funds.
Hyster-Yale Materials Handling Company Profile
Hyster-Yale Materials Handling, Inc is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.
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