Sun Hydraulics (SNHY) Raised to Buy at Sidoti

Sun Hydraulics (NASDAQ:SNHY) was upgraded by equities researchers at Sidoti from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat.com reports. The firm presently has a $69.00 price target on the industrial products company’s stock. Sidoti’s price objective suggests a potential upside of 24.95% from the stock’s current price.

Other research analysts have also issued reports about the company. SunTrust Banks started coverage on Sun Hydraulics in a report on Monday, February 5th. They set a “buy” rating for the company. BidaskClub lowered Sun Hydraulics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Zacks Investment Research lowered Sun Hydraulics from a “strong-buy” rating to a “hold” rating and set a $61.00 price target for the company. in a report on Friday. Finally, KeyCorp started coverage on Sun Hydraulics in a report on Monday, February 5th. They set an “overweight” rating and a $67.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Sun Hydraulics currently has a consensus rating of “Hold” and an average target price of $63.50.

Shares of Sun Hydraulics (NASDAQ SNHY) traded up $0.75 during mid-day trading on Tuesday, hitting $55.22. The stock had a trading volume of 348,377 shares, compared to its average volume of 298,773. Sun Hydraulics has a one year low of $34.17 and a one year high of $70.83. The firm has a market capitalization of $1,666.40, a price-to-earnings ratio of 46.40 and a beta of 1.68. The company has a current ratio of 2.62, a quick ratio of 1.96 and a debt-to-equity ratio of 0.43.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Sun Hydraulics by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,347 shares of the industrial products company’s stock valued at $784,000 after purchasing an additional 54 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Sun Hydraulics by 0.4% in the second quarter. Stifel Financial Corp now owns 43,035 shares of the industrial products company’s stock valued at $1,830,000 after purchasing an additional 183 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Sun Hydraulics by 2.5% in the second quarter. Goldman Sachs Group Inc. now owns 23,610 shares of the industrial products company’s stock valued at $1,008,000 after purchasing an additional 571 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Sun Hydraulics by 0.9% in the second quarter. TIAA CREF Investment Management LLC now owns 62,854 shares of the industrial products company’s stock valued at $2,682,000 after purchasing an additional 577 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in shares of Sun Hydraulics by 0.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 118,243 shares of the industrial products company’s stock valued at $7,649,000 after purchasing an additional 819 shares in the last quarter. Institutional investors and hedge funds own 70.66% of the company’s stock.

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About Sun Hydraulics

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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