Hyster-Yale (NYSE:HY) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Hyster-Yale (NYSE:HY) from a hold rating to a sell rating in a research report released on Saturday morning.

Other equities research analysts have also issued reports about the company. Northland Securities upgraded Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, March 2nd. Weiss Ratings downgraded Hyster-Yale from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.00.

Hyster-Yale Stock Down 1.6%

Shares of NYSE HY opened at $32.91 on Friday. The firm has a market cap of $583.49 million, a price-to-earnings ratio of -9.68 and a beta of 1.54. The company’s 50-day simple moving average is $35.02 and its 200-day simple moving average is $34.53. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. Hyster-Yale has a 52-week low of $26.41 and a 52-week high of $46.87.

Hyster-Yale (NYSE:HY) last released its quarterly earnings results on Tuesday, March 3rd. The industrial products company reported ($2.06) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.86). The company had revenue of $923.20 million for the quarter, compared to analyst estimates of $916.43 million. Hyster-Yale had a negative return on equity of 6.12% and a negative net margin of 1.59%. Equities analysts predict that Hyster-Yale will post 8.85 EPS for the current fiscal year.

Hyster-Yale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, February 27th. This represents a $1.44 dividend on an annualized basis and a yield of 4.4%. Hyster-Yale’s payout ratio is presently -42.35%.

Institutional Trading of Hyster-Yale

A number of hedge funds have recently bought and sold shares of HY. State of Alaska Department of Revenue purchased a new position in Hyster-Yale in the 3rd quarter worth approximately $27,000. Kestra Advisory Services LLC acquired a new position in shares of Hyster-Yale during the 4th quarter worth approximately $61,000. Aquatic Capital Management LLC grew its position in shares of Hyster-Yale by 71.9% in the third quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 1,410 shares in the last quarter. Amundi grew its position in shares of Hyster-Yale by 10.1% in the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 444 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Hyster-Yale by 19.2% in the third quarter. Intech Investment Management LLC now owns 6,443 shares of the industrial products company’s stock valued at $237,000 after purchasing an additional 1,036 shares during the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

Hyster-Yale Company Profile

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.