Sun Hydraulics (NASDAQ:SNHY) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, January 6th.
A number of other brokerages have also recently weighed in on SNHY. Zacks Investment Research upgraded shares of Sun Hydraulics from a “hold” rating to a “strong-buy” rating and set a $63.00 price target for the company in a research note on Tuesday, October 17th. Sidoti initiated coverage on shares of Sun Hydraulics in a research note on Thursday, September 14th. They set a “neutral” rating for the company. Finally, Robert W. Baird cut shares of Sun Hydraulics from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $55.00 to $57.00 in a research note on Friday, October 13th. Four research analysts have rated the stock with a hold rating, Sun Hydraulics currently has an average rating of “Hold” and an average target price of $60.00.
Shares of Sun Hydraulics (SNHY) traded down $0.62 during trading on Friday, hitting $62.08. 149,016 shares of the stock traded hands, compared to its average volume of 127,439. Sun Hydraulics has a fifty-two week low of $34.17 and a fifty-two week high of $70.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.96 and a current ratio of 2.62. The firm has a market cap of $1,690.00, a PE ratio of 52.95 and a beta of 1.79.
Sun Hydraulics (NASDAQ:SNHY) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.07. Sun Hydraulics had a net margin of 10.34% and a return on equity of 15.54%. The business had revenue of $88.00 million during the quarter, compared to analysts’ expectations of $80.66 million. During the same quarter in the prior year, the business posted $0.19 EPS. The company’s revenue for the quarter was up 94.7% on a year-over-year basis. analysts expect that Sun Hydraulics will post 1.65 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in Sun Hydraulics during the 2nd quarter worth $557,000. Conestoga Capital Advisors LLC boosted its stake in Sun Hydraulics by 17.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,222,892 shares of the industrial products company’s stock worth $79,109,000 after purchasing an additional 184,415 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in shares of Sun Hydraulics in the 2nd quarter worth $252,000. Teachers Advisors LLC lifted its stake in shares of Sun Hydraulics by 7.4% in the 2nd quarter. Teachers Advisors LLC now owns 41,902 shares of the industrial products company’s stock worth $1,788,000 after acquiring an additional 2,869 shares during the period. Finally, State Street Corp lifted its stake in shares of Sun Hydraulics by 7.5% in the 2nd quarter. State Street Corp now owns 447,893 shares of the industrial products company’s stock worth $19,111,000 after acquiring an additional 31,402 shares during the period. Hedge funds and other institutional investors own 82.58% 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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