Sun Hydraulics (SNHY) Hits New 52-Week Low on Disappointing Earnings

Sun Hydraulics Co. (NASDAQ:SNHY) shares hit a new 52-week low on Tuesday following a weaker than expected earnings announcement. The company traded as low as $41.01 and last traded at $40.43, with a volume of 6079 shares. The stock had previously closed at $50.03.

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). Sun Hydraulics had a net margin of 8.08% and a return on equity of 11.79%. The firm had revenue of $135.80 million during the quarter, compared to the consensus estimate of $141.42 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The company’s revenue was up 54.3% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 20th. Investors of record on Friday, October 5th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, October 4th. Sun Hydraulics’s dividend payout ratio is currently 22.50%.

A number of brokerages recently issued reports on SNHY. Robert W. Baird upgraded Sun Hydraulics from a “neutral” rating to an “outperform” rating and set a $55.00 price objective on the stock 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 on the stock in a research note on Wednesday, July 18th. They noted that the move was a valuation call. BidaskClub cut Sun Hydraulics from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. Zacks Investment Research upgraded Sun Hydraulics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Finally, ValuEngine cut Sun Hydraulics from a “hold” rating to a “sell” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $60.83.

In other Sun Hydraulics news, Director Christine L. Koski sold 1,221 shares of Sun Hydraulics stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $53.57, for a total transaction of $65,408.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine L. Koski sold 29,580 shares of Sun Hydraulics stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $56.86, for a total value of $1,681,918.80. The disclosure for this sale can be found here. Insiders sold a total of 104,601 shares of company stock worth $5,620,982 over the last 90 days. 7.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of SNHY. The Manufacturers Life Insurance Company grew its holdings in Sun Hydraulics by 13.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 20,461 shares of the industrial products company’s stock valued at $1,096,000 after buying an additional 2,458 shares in the last quarter. LPL Financial LLC purchased a new position in Sun Hydraulics during the 1st quarter valued at about $291,000. California State Teachers Retirement System grew its holdings in Sun Hydraulics by 12.4% during the 1st quarter. California State Teachers Retirement System now owns 41,893 shares of the industrial products company’s stock valued at $2,244,000 after buying an additional 4,637 shares in the last quarter. Legal & General Group Plc grew its holdings in Sun Hydraulics by 79.1% during the 1st quarter. Legal & General Group Plc now owns 10,663 shares of the industrial products company’s stock valued at $571,000 after buying an additional 4,709 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its holdings in Sun Hydraulics by 69.7% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,358 shares of the industrial products company’s stock valued at $287,000 after buying an additional 2,200 shares in the last quarter. 86.21% of the stock is owned by institutional investors and hedge funds.

The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 23.72 and a beta of 1.71.

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About Sun Hydraulics (NASDAQ:SNHY)

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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