Sun Hydraulics (NASDAQ:SNHY) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Several other equities research analysts have also recently issued reports on SNHY. Zacks Investment Research upgraded Sun Hydraulics from a “hold” rating to a “strong-buy” rating and set a $54.00 price objective on the stock in a report on Friday, August 11th. Sidoti began coverage on Sun Hydraulics in a report on Thursday, September 14th. They set a “neutral” rating on the stock. Finally, Robert W. Baird cut Sun Hydraulics from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $55.00 to $57.00 in a report on Friday, October 13th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $60.00.

Shares of Sun Hydraulics (SNHY) traded down $0.82 during trading on Wednesday, hitting $57.20. The company had a trading volume of 116,235 shares, compared to its average volume of 85,970. The company has a current ratio of 2.62, a quick ratio of 1.96 and a debt-to-equity ratio of 0.43. Sun Hydraulics has a 1 year low of $34.17 and a 1 year high of $63.63. The stock has a market cap of $1,548.58, a price-to-earnings ratio of 39.45 and a beta of 1.79.

Sun Hydraulics (NASDAQ:SNHY) last posted its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.07. Sun Hydraulics had a return on equity of 15.54% and a net margin of 10.34%. The company had revenue of $88.00 million for the quarter, compared to analysts’ expectations of $80.66 million. During the same period in the previous year, the firm posted $0.19 EPS. Sun Hydraulics’s revenue was up 94.7% compared to the same quarter last year. sell-side analysts anticipate that Sun Hydraulics will post 1.65 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNHY. Schwab Charles Investment Management Inc. raised its position in Sun Hydraulics by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 100,337 shares of the industrial products company’s stock valued at $3,624,000 after purchasing an additional 5,460 shares during the period. Bank of America Corp DE raised its position in Sun Hydraulics by 15.1% in the first quarter. Bank of America Corp DE now owns 7,071 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 925 shares during the period. State Street Corp raised its position in Sun Hydraulics by 1.5% in the first quarter. State Street Corp now owns 416,491 shares of the industrial products company’s stock valued at $15,037,000 after purchasing an additional 6,254 shares during the period. Russell Investments Group Ltd. raised its position in Sun Hydraulics by 0.5% in the second quarter. Russell Investments Group Ltd. now owns 15,731 shares of the industrial products company’s stock valued at $671,000 after purchasing an additional 71 shares during the period. Finally, NGAM Advisors L.P. raised its position in Sun Hydraulics by 7.4% in the second quarter. NGAM Advisors L.P. now owns 66,275 shares of the industrial products company’s stock valued at $2,828,000 after purchasing an additional 4,549 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

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Sun Hydraulics Company Profile

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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