Zacks Investment Research upgraded shares of Sun Hydraulics Corporation (NASDAQ:SNHY) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning. Zacks Investment Research currently has $46.00 price objective on the stock.
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 raised shares of Sun Hydraulics Corporation from a neutral rating to an outperform rating and raised their target price for the stock from $27.00 to $35.00 in a report on Tuesday, November 8th.
Sun Hydraulics Corporation (NASDAQ:SNHY) opened at 37.57 on Thursday. The stock has a 50 day moving average price of $39.99 and a 200 day moving average price of $32.98. The stock has a market cap of $1.01 billion, a P/E ratio of 39.93 and a beta of 1.85. Sun Hydraulics Corporation has a 52-week low of $24.00 and a 52-week high of $42.00.
Sun Hydraulics Corporation (NASDAQ:SNHY) last issued its earnings results on Monday, November 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. Sun Hydraulics Corporation had a return on equity of 10.91% and a net margin of 13.22%. The business earned $45.20 million during the quarter, compared to the consensus estimate of $46.49 million. During the same period in the prior year, the business earned $0.32 EPS. The business’s revenue was down 5.8% on a year-over-year basis. On average, equities research analysts forecast that Sun Hydraulics Corporation will post $0.90 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Sunday, January 15th. Shareholders of record on Saturday, December 31st will be paid a $0.09 dividend. The ex-dividend date is Wednesday, December 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.96%. Sun Hydraulics Corporation’s payout ratio is currently 37.90%.
Large investors have recently made changes to their positions in the stock. John G Ullman & Associates Inc. raised its stake in shares of Sun Hydraulics Corporation by 3.3% in the second quarter. John G Ullman & Associates Inc. now owns 115,625 shares of the company’s stock valued at $3,433,000 after buying an additional 3,700 shares during the last quarter. Bbva Compass Bancshares Inc. raised its position in Sun Hydraulics Corporation by 25.4% in the second quarter. Bbva Compass Bancshares Inc. now owns 14,729 shares of the company’s stock worth $437,000 after buying an additional 2,979 shares in the last quarter. Bank of New York Mellon Corp raised its position in Sun Hydraulics Corporation by 13.1% in the second quarter. Bank of New York Mellon Corp now owns 178,688 shares of the company’s stock worth $5,307,000 after buying an additional 20,654 shares in the last quarter. California State Teachers Retirement System raised its position in Sun Hydraulics Corporation by 1.0% in the second quarter. California State Teachers Retirement System now owns 48,789 shares of the company’s stock worth $1,449,000 after buying an additional 499 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in Sun Hydraulics Corporation during the second quarter worth approximately $680,000. Institutional investors own 77.55% of the company’s stock.
Sun Hydraulics Corporation Company Profile
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.
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