Hyster-Yale Materials Handling, Inc. (HY) Downgraded by Zacks Investment Research to Sell

Hyster-Yale Materials Handling, Inc. (NYSE:HY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, October 19th.

According to Zacks, “Hyster-Yale Materials Handling, Inc. designs, engineers, manufactures, sells and services a comprehensive line of lift trucks, warehouse trucks, counterbalanced trucks, cargo, container handling trucks and aftermarket parts. The Company’s products are marketed globally under the Hyster(R) and Yale(R) brand names. It conducts its operations primarily in America, Europe and Asia-Pacific. Hyster-Yale Materials Handling, Inc. is based in Portland, Oregon. “

A number of other equities research analysts have also recently issued reports on HY. BidaskClub cut Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Sidoti raised Hyster-Yale Materials Handling from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, ValuEngine raised Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Hyster-Yale Materials Handling presently has an average rating of “Hold” and a consensus target price of $74.00.

Hyster-Yale Materials Handling (NYSE:HY) traded down 0.21% during mid-day trading on Thursday, hitting $80.30. 70,380 shares of the stock were exchanged. The company has a market cap of $1.32 billion, a P/E ratio of 22.43 and a beta of 1.06. Hyster-Yale Materials Handling has a one year low of $49.84 and a one year high of $82.76. The company has a 50-day moving average price of $76.85 and a 200-day moving average price of $71.32.

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In related news, insider Susan Sichel sold 1,250 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $64.46, for a total value of $80,575.00. Following the completion of the transaction, the insider now directly owns 16,850 shares in the company, valued at $1,086,151. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank F. Taplin sold 1,464 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $68.25, for a total value of $99,918.00. The disclosure for this sale can be found here. Corporate insiders own 26.34% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its stake in Hyster-Yale Materials Handling by 519.8% during the second quarter. BNP Paribas Arbitrage SA now owns 1,624 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 1,362 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Hyster-Yale Materials Handling in the first quarter valued at $110,000. Victory Capital Management Inc. increased its stake in shares of Hyster-Yale Materials Handling by 17.7% in the second quarter. Victory Capital Management Inc. now owns 2,119 shares of the industrial products company’s stock valued at $149,000 after buying an additional 319 shares in the last quarter. Simplex Trading LLC increased its stake in shares of Hyster-Yale Materials Handling by 123.9% in the third quarter. Simplex Trading LLC now owns 2,243 shares of the industrial products company’s stock valued at $171,000 after buying an additional 1,241 shares in the last quarter. Finally, Weik Investment Services Inc. acquired a new stake in shares of Hyster-Yale Materials Handling in the second quarter valued at $211,000. Hedge funds and other institutional investors own 51.56% of the company’s stock.

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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