Sidoti Initiates Coverage on Sun Hydraulics Corporation (SNHY)
Research analysts at Sidoti initiated coverage on shares of Sun Hydraulics Corporation (NASDAQ:SNHY) in a research note issued on Thursday, The Fly reports. The brokerage set a “neutral” rating on the industrial products company’s stock.
SNHY has been the subject of a number of other reports. BidaskClub cut shares of Sun Hydraulics Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Zacks Investment Research cut shares of Sun Hydraulics Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Sun Hydraulics Corporation has an average rating of “Buy” and a consensus target price of $44.50.
Shares of Sun Hydraulics Corporation (NASDAQ:SNHY) traded up 0.10% on Thursday, hitting $51.04. The company had a trading volume of 115,586 shares. The stock has a market cap of $1.38 billion, a PE ratio of 53.73 and a beta of 1.78. Sun Hydraulics Corporation has a 12 month low of $28.46 and a 12 month high of $51.38. The company has a 50-day moving average of $45.99 and a 200 day moving average of $41.15.
Sun Hydraulics Corporation (NASDAQ:SNHY) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.13. The business had revenue of $89.30 million during the quarter, compared to analysts’ expectations of $79.18 million. Sun Hydraulics Corporation had a net margin of 9.63% and a return on equity of 13.25%. The business’s revenue was up 75.8% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share. Analysts anticipate that Sun Hydraulics Corporation will post $1.56 EPS for the current fiscal year.
In related news, Director Christine L. Koski sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $47.33, for a total value of $946,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine L. Koski sold 16,547 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $47.01, for a total transaction of $777,874.47. The disclosure for this sale can be found here. Insiders have sold 85,440 shares of company stock valued at $4,070,619 over the last 90 days. 10.70% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Susquehanna International Group LLP purchased a new stake in shares of Sun Hydraulics Corporation in the 2nd quarter valued at approximately $308,000. The Manufacturers Life Insurance Company lifted its position in shares of Sun Hydraulics Corporation by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,347 shares of the industrial products company’s stock valued at $784,000 after acquiring an additional 54 shares in the last quarter. State Street Corp lifted its position in shares of Sun Hydraulics Corporation by 7.5% in the 2nd quarter. State Street Corp now owns 447,893 shares of the industrial products company’s stock valued at $19,111,000 after acquiring an additional 31,402 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Sun Hydraulics Corporation in the 2nd quarter valued at approximately $22,193,000. Finally, Fred Alger Management Inc. lifted its position in shares of Sun Hydraulics Corporation by 0.6% in the 2nd quarter. Fred Alger Management Inc. now owns 487,668 shares of the industrial products company’s stock valued at $20,809,000 after acquiring an additional 2,857 shares in the last quarter. Institutional investors and hedge funds own 80.18% of the company’s stock.
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.
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