Sun Hydraulics (NASDAQ:SNHY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
Several other brokerages have also recently issued reports on SNHY. BidaskClub cut Sun Hydraulics from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird cut Sun Hydraulics from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $55.00 to $57.00 in a research report on Friday, October 13th. Finally, Sidoti assumed coverage on Sun Hydraulics in a research report on Thursday, September 14th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average target price of $60.00.
Sun Hydraulics (NASDAQ:SNHY) last announced its earnings results on Monday, November 6th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.07. The company had revenue of $88.00 million for the quarter, compared to analysts’ expectations of $80.66 million. Sun Hydraulics had a return on equity of 15.54% and a net margin of 10.34%. Sun Hydraulics’s quarterly revenue was up 94.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 earnings per share. analysts expect that Sun Hydraulics will post 1.65 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. purchased a new position in shares of Sun Hydraulics during the second quarter valued at approximately $252,000. Teachers Advisors LLC lifted its holdings in Sun Hydraulics by 7.4% during the second quarter. Teachers Advisors LLC now owns 41,902 shares of the industrial products company’s stock worth $1,788,000 after acquiring an additional 2,869 shares during the period. State Street Corp lifted its holdings in Sun Hydraulics by 7.5% during the second quarter. State Street Corp now owns 447,893 shares of the industrial products company’s stock worth $19,111,000 after acquiring an additional 31,402 shares during the period. Vanguard Group Inc. lifted its holdings in Sun Hydraulics by 4.1% during the second quarter. Vanguard Group Inc. now owns 1,880,090 shares of the industrial products company’s stock worth $80,223,000 after acquiring an additional 73,703 shares during the period. Finally, RK Capital Management LLC bought a new stake in Sun Hydraulics during the second quarter worth $7,173,000. 79.46% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: “Zacks Investment Research Lowers Sun Hydraulics (SNHY) to Hold” was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.com-unik.info/2018/01/10/zacks-investment-research-lowers-sun-hydraulics-snhy-to-hold.html.
Sun Hydraulics Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sun Hydraulics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Hydraulics and related companies with MarketBeat.com's FREE daily email newsletter.