Sun Hydraulics Corp. (SNHY) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sun Hydraulics Corp. (NASDAQ:SNHY) from a sell rating to a hold rating in a report released on Saturday.

According to Zacks, “Sun Hydraulics is a leading designer and manufacturer of high-performance, screw-in hydraulic cartridge valves and manifolds which control force, speed and motion as integral components in fluid power systems. The Company sells its products globally through independent distributors. “

Separately, Robert W. Baird upgraded shares of Sun Hydraulics Corp. from a neutral rating to an outperform rating and upped their price objective for the stock from $27.00 to $35.00 in a report on Tuesday, November 8th.

Shares of Sun Hydraulics Corp. (NASDAQ:SNHY) opened at 39.50 on Friday. The company has a 50-day moving average price of $32.16 and a 200 day moving average price of $30.70. Sun Hydraulics Corp. has a one year low of $24.00 and a one year high of $41.04. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 41.98 and a beta of 1.74.

Sun Hydraulics Corp. (NASDAQ:SNHY) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. Sun Hydraulics Corp. had a return on equity of 10.91% and a net margin of 13.22%. The company earned $45.20 million during the quarter, compared to analyst estimates of $46.49 million. During the same period last year, the company posted $0.32 earnings per share. The company’s revenue was down 5.8% compared to the same quarter last year. On average, analysts forecast that Sun Hydraulics Corp. will post $0.94 EPS for the current fiscal year.

In related news, Director Christine L. Koski sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $31.01, for a total value of $232,575.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christine L. Koski sold 8,000 shares of the company’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $32.17, for a total transaction of $257,360.00. The disclosure for this sale can be found here. 10.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the company. Teachers Advisors Inc. boosted its stake in Sun Hydraulics Corp. by 10.0% in the first quarter. Teachers Advisors Inc. now owns 37,728 shares of the company’s stock worth $1,252,000 after buying an additional 3,431 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Sun Hydraulics Corp. by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 601,525 shares of the company’s stock worth $19,965,000 after buying an additional 6,105 shares during the period. UBS Group AG boosted its stake in Sun Hydraulics Corp. by 2.6% in the first quarter. UBS Group AG now owns 51,288 shares of the company’s stock worth $1,702,000 after buying an additional 1,321 shares during the period. Renaissance Technologies LLC boosted its stake in Sun Hydraulics Corp. by 17.0% in the first quarter. Renaissance Technologies LLC now owns 525,700 shares of the company’s stock worth $17,448,000 after buying an additional 76,300 shares during the period. Finally, John G Ullman & Associates Inc. boosted its stake in Sun Hydraulics Corp. by 3.3% in the second quarter. John G Ullman & Associates Inc. now owns 115,625 shares of the company’s stock worth $3,433,000 after buying an additional 3,700 shares during the period. Hedge funds and other institutional investors own 76.29% of the company’s stock.

About Sun Hydraulics Corp.

Sun Hydraulics Corporation (Sun) designs and manufactures screw-in hydraulic cartridge valves and manifolds, which control force, speed and motion as integral components in fluid power systems. The Company operates through manufacturing and distribution of hydraulic components segment. The Company, at components level, designs and manufactures screw-in hydraulic cartridge valves, manifolds, and integrates fluid power packages and subsystems.

5 Day Chart for NASDAQ:SNHY

Get a free copy of the Zacks research report on Sun Hydraulics Corp. (SNHY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Sun Hydraulics Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Hydraulics Corp. and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2016 Mideast Time.