Hyster-Yale Materials Handling (HY) Raised to “Hold” at ValuEngine

Hyster-Yale Materials Handling (NYSE:HY) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

Several other brokerages have also issued reports on HY. Zacks Investment Research upgraded Hyster-Yale Materials Handling from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. TheStreet lowered Hyster-Yale Materials Handling from a “b” rating to a “c” rating in a research note on Friday, August 3rd. Four research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $66.00.

Hyster-Yale Materials Handling stock opened at $60.71 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.87 and a current ratio of 1.51. The stock has a market capitalization of $1.03 billion, a PE ratio of 14.95 and a beta of 1.17. Hyster-Yale Materials Handling has a 52 week low of $56.40 and a 52 week high of $93.90.

Hyster-Yale Materials Handling (NYSE:HY) last posted its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.19). The business had revenue of $765.60 million during the quarter, compared to the consensus estimate of $797.00 million. Hyster-Yale Materials Handling had a return on equity of 8.26% and a net margin of 1.14%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share.

In other Hyster-Yale Materials Handling news, VP Gregory Breier sold 1,000 shares of Hyster-Yale Materials Handling stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $65.00, for a total transaction of $65,000.00. Following the sale, the vice president now directly owns 6,388 shares of the company’s stock, valued at $415,220. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred M. Et Al Rankin acquired 3,433 shares of the firm’s stock in a transaction on Wednesday, October 10th. The shares were bought at an average cost of $61.83 per share, for a total transaction of $212,262.39. The disclosure for this purchase can be found here. Insiders have acquired 33,924 shares of company stock worth $2,122,491 over the last ninety days. Company insiders own 26.34% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in shares of Hyster-Yale Materials Handling by 1,184.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,405 shares of the industrial products company’s stock worth $283,000 after acquiring an additional 4,062 shares in the last quarter. Global X Management Co LLC acquired a new position in shares of Hyster-Yale Materials Handling in the 2nd quarter worth approximately $231,000. Dimensional Fund Advisors LP boosted its holdings in shares of Hyster-Yale Materials Handling by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 950,676 shares of the industrial products company’s stock worth $61,081,000 after acquiring an additional 34,490 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Hyster-Yale Materials Handling by 29.1% in the 2nd quarter. First Trust Advisors LP now owns 19,429 shares of the industrial products company’s stock worth $1,248,000 after acquiring an additional 4,378 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Hyster-Yale Materials Handling by 7.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 104,976 shares of the industrial products company’s stock worth $7,341,000 after buying an additional 6,850 shares in the last quarter. 50.63% of the stock is currently owned by institutional investors and hedge funds.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks and aftermarket parts worldwide. The company operates through five segments: the Americas, EMEA, JAPIC, Bolzoni, and Nuvera. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks.

Read More: Initial Public Offering (IPO)

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