Hyster-Yale Materials Handling (NYSE:HY – Get Free Report) was downgraded by Northland Capmk from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.
Several other analysts have also recently commented on the stock. Roth Mkm reiterated a “buy” rating and issued a $87.00 price objective on shares of Hyster-Yale Materials Handling in a research note on Friday, June 7th. Northland Securities raised shares of Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Wednesday, June 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.00.
Read Our Latest Stock Report on Hyster-Yale Materials Handling
Hyster-Yale Materials Handling Stock Performance
Hyster-Yale Materials Handling (NYSE:HY – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $1.30. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Hyster-Yale Materials Handling had a return on equity of 42.94% and a net margin of 3.61%. During the same quarter in the prior year, the business posted $2.21 earnings per share. On average, equities analysts forecast that Hyster-Yale Materials Handling will post 8.3 EPS for the current year.
Institutional Investors Weigh In On Hyster-Yale Materials Handling
A number of large investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. raised its position in Hyster-Yale Materials Handling by 298.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock worth $8,479,000 after acquiring an additional 98,996 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Hyster-Yale Materials Handling by 92,150.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 92,250 shares of the industrial products company’s stock valued at $5,737,000 after purchasing an additional 92,150 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Hyster-Yale Materials Handling by 149.8% during the 2nd quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock worth $10,546,000 after purchasing an additional 90,696 shares in the last quarter. Swedbank AB acquired a new position in shares of Hyster-Yale Materials Handling during the 1st quarter worth approximately $5,519,000. Finally, Acadian Asset Management LLC raised its position in shares of Hyster-Yale Materials Handling by 63.7% during the 2nd quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock worth $15,390,000 after purchasing an additional 85,906 shares during the last quarter. 46.47% of the stock is owned by institutional investors and hedge funds.
Hyster-Yale Materials Handling Company Profile
Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.
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