Hyster-Yale (NYSE:HY) Rating Increased to Hold at Wall Street Zen

Hyster-Yale (NYSE:HY) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts have also recently commented on the stock. Weiss Ratings cut shares of Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Northland Securities upgraded shares of Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Monday, March 2nd. Finally, Zacks Research upgraded shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.00.

Hyster-Yale Stock Down 3.9%

Shares of HY stock opened at $34.63 on Friday. The stock has a market cap of $620.53 million, a P/E ratio of -6.19 and a beta of 1.61. Hyster-Yale has a 52 week low of $26.41 and a 52 week high of $44.55. The company has a quick ratio of 0.67, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $35.76 and its two-hundred day simple moving average is $34.06.

Hyster-Yale (NYSE:HY) last announced its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) EPS for the quarter, topping the consensus estimate of ($2.02) by $0.38. The business had revenue of $795.20 million for the quarter, compared to analysts’ expectations of $878.10 million. Hyster-Yale had a negative net margin of 2.71% and a negative return on equity of 13.96%. Analysts predict that Hyster-Yale will post -2.75 EPS for the current fiscal year.

Institutional Trading of Hyster-Yale

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Hyster-Yale by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 587,683 shares of the industrial products company’s stock valued at $19,105,000 after buying an additional 28,642 shares in the last quarter. Valueworks LLC raised its position in shares of Hyster-Yale by 33.2% during the 4th quarter. Valueworks LLC now owns 399,344 shares of the industrial products company’s stock valued at $11,865,000 after buying an additional 99,538 shares in the last quarter. State Street Corp grew its holdings in Hyster-Yale by 12.1% during the 4th quarter. State Street Corp now owns 307,794 shares of the industrial products company’s stock valued at $9,145,000 after purchasing an additional 33,281 shares during the last quarter. Deprince Race & Zollo Inc. bought a new position in Hyster-Yale during the 1st quarter valued at about $8,696,000. Finally, Millennium Management LLC grew its holdings in Hyster-Yale by 1.5% during the 4th quarter. Millennium Management LLC now owns 224,251 shares of the industrial products company’s stock valued at $6,662,000 after purchasing an additional 3,401 shares during the last quarter. 46.47% of the stock is currently owned by hedge funds and other institutional investors.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.