Hyster-Yale Materials Handling (HY) Upgraded by Zacks Investment Research to Hold

Hyster-Yale Materials Handling (NYSE:HY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

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. “

Several other equities analysts have also weighed in on the company. Seaport Global Securities lowered Hyster-Yale Materials Handling from a “neutral” rating to a “sell” rating and set a $56.00 target price on the stock. in a research note on Monday, November 6th. Sidoti reissued a “neutral” rating on shares of Hyster-Yale Materials Handling in a research note on Friday, October 13th. Finally, ValuEngine raised Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $74.00.

Hyster-Yale Materials Handling (NYSE:HY) opened at $85.87 on Tuesday. Hyster-Yale Materials Handling has a one year low of $53.50 and a one year high of $93.90. The company has a quick ratio of 1.02, a current ratio of 1.64 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1,410.00, a PE ratio of 22.42 and a beta of 1.09.

In other news, insider Frank F. Taplin sold 1,178 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $84.40, for a total transaction of $99,423.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 26.34% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HY. Schwab Charles Investment Management Inc. raised its position in shares of Hyster-Yale Materials Handling by 10.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 90,101 shares of the industrial products company’s stock worth $6,330,000 after purchasing an additional 8,558 shares during the period. Rhumbline Advisers raised its position in shares of Hyster-Yale Materials Handling by 1.5% during the second quarter. Rhumbline Advisers now owns 12,520 shares of the industrial products company’s stock worth $880,000 after purchasing an additional 190 shares during the period. Legal & General Group Plc raised its position in shares of Hyster-Yale Materials Handling by 4.9% during the second quarter. Legal & General Group Plc now owns 3,361 shares of the industrial products company’s stock worth $237,000 after purchasing an additional 156 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of 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 purchasing an additional 1,362 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Hyster-Yale Materials Handling by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,119 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 319 shares during the period. 50.88% of the stock is currently owned by institutional investors.

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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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