Sun Hydraulics (NASDAQ:SNHY) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
SNHY has been the subject of a number of other research reports. Robert W. Baird upgraded Sun Hydraulics from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Thursday, September 20th. SunTrust Banks lowered their price objective on Sun Hydraulics to $59.00 and set a “$49.53” rating for the company in a research note on Wednesday, July 18th. They noted that the move was a valuation call. BidaskClub lowered Sun Hydraulics from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Finally, Zacks Investment Research raised Sun Hydraulics from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $60.83.
NASDAQ:SNHY traded down $12.08 during trading hours on Tuesday, reaching $37.95. 633,888 shares of the company traded hands, compared to its average volume of 171,355. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 23.72 and a beta of 1.71. Sun Hydraulics has a 1 year low of $37.01 and a 1 year high of $70.83. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.
Sun Hydraulics (NASDAQ:SNHY) last announced its quarterly earnings data on Monday, November 5th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.03). The company had revenue of $135.80 million for the quarter, compared to analysts’ expectations of $141.42 million. Sun Hydraulics had a net margin of 8.08% and a return on equity of 11.79%. The firm’s quarterly revenue was up 54.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, equities research analysts predict that Sun Hydraulics will post 1.79 EPS for the current year.
In related news, Director Christine L. Koski sold 29,580 shares of Sun Hydraulics stock in a transaction on Friday, September 21st. The stock was sold at an average price of $56.86, for a total value of $1,681,918.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tricia L. Fulton sold 7,500 shares of Sun Hydraulics stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $54.21, for a total value of $406,575.00. Following the completion of the sale, the chief financial officer now directly owns 62,091 shares of the company’s stock, valued at approximately $3,365,953.11. The disclosure for this sale can be found here. In the last three months, insiders sold 104,601 shares of company stock valued at $5,620,982. Corporate insiders own 7.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SNHY. The Manufacturers Life Insurance Company grew its holdings in shares of Sun Hydraulics by 13.7% in the first quarter. The Manufacturers Life Insurance Company now owns 20,461 shares of the industrial products company’s stock worth $1,096,000 after acquiring an additional 2,458 shares during the period. LPL Financial LLC bought a new stake in shares of Sun Hydraulics in the first quarter worth $291,000. California State Teachers Retirement System grew its holdings in shares of Sun Hydraulics by 12.4% in the first quarter. California State Teachers Retirement System now owns 41,893 shares of the industrial products company’s stock worth $2,244,000 after acquiring an additional 4,637 shares during the period. Legal & General Group Plc grew its holdings in shares of Sun Hydraulics by 79.1% in the first quarter. Legal & General Group Plc now owns 10,663 shares of the industrial products company’s stock worth $571,000 after acquiring an additional 4,709 shares during the period. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Sun Hydraulics by 69.7% in the first quarter. Xact Kapitalforvaltning AB now owns 5,358 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 2,200 shares during the period. 86.21% of the stock is owned by institutional investors.
About Sun Hydraulics
Helios Technologies designs, manufactures, and sells screw-in hydraulic cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems worldwide. The company operates through two segments, Hydraulics and Electronics. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems.
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