Sun Hydraulics (SNHY) Downgraded to Buy at BidaskClub

BidaskClub downgraded shares of Sun Hydraulics (NASDAQ:SNHY) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Sun Hydraulics from a strong-buy rating to a hold rating in a report on Wednesday, October 11th. Sidoti initiated coverage on Sun Hydraulics in a report on Thursday, September 14th. They set a neutral rating on the stock. Finally, Robert W. Baird lowered Sun Hydraulics from an outperform rating to a neutral rating and raised their target price for the company from $55.00 to $57.00 in a report on Friday, October 13th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $60.00.

Sun Hydraulics (NASDAQ SNHY) traded down $0.17 during midday trading on Wednesday, reaching $58.12. The company’s stock had a trading volume of 80,300 shares, compared to its average volume of 102,276. Sun Hydraulics has a one year low of $34.17 and a one year high of $63.63. The company has a current ratio of 2.62, a quick ratio of 1.96 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1,578.11, a price-to-earnings ratio of 40.20 and a beta of 1.79.

Sun Hydraulics (NASDAQ:SNHY) last posted its earnings results on Monday, November 6th. The industrial products company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.07. Sun Hydraulics had a return on equity of 15.54% and a net margin of 10.34%. The company had revenue of $88.00 million for the quarter, compared to analyst estimates of $80.66 million. During the same period last year, the company earned $0.19 earnings per share. The business’s revenue was up 94.7% compared to the same quarter last year. analysts forecast that Sun Hydraulics will post 1.65 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its stake in shares of Sun Hydraulics by 191.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,337 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 1,536 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Sun Hydraulics by 542.0% in the second quarter. BNP Paribas Arbitrage SA now owns 3,486 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 2,943 shares during the period. Victory Capital Management Inc. increased its stake in shares of Sun Hydraulics by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,060 shares of the industrial products company’s stock worth $173,000 after purchasing an additional 608 shares during the period. Aperio Group LLC bought a new position in shares of Sun Hydraulics in the third quarter worth about $201,000. Finally, Hartland & Co. LLC bought a new position in shares of Sun Hydraulics in the third quarter worth about $203,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

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About Sun Hydraulics

Sun Hydraulics Corporation (Sun) develops and manufactures solutions for the hydraulics and electronics markets. It is engaged in power controls and vehicle technologies lines of business. The Company operates through two segments including hydraulics and electronics. Hydraulics market segment is engaged in manufacturing of screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the worldwide industrial and mobile hydraulics markets operating under the brand Sun Hydraulics.

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