Sun Hydraulics (NASDAQ:SNHY) Downgraded to “Hold” at BidaskClub

Sun Hydraulics (NASDAQ:SNHY) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday, January 6th.

SNHY has been the topic of several other reports. Zacks Investment Research cut shares of Sun Hydraulics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Sidoti began coverage on shares of Sun Hydraulics in a research note on Thursday, September 14th. They set a “neutral” rating on the stock. Finally, Robert W. Baird cut shares of Sun Hydraulics from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $55.00 to $57.00 in a research note on Friday, October 13th. Four research analysts have rated the stock with a hold rating, Sun Hydraulics has a consensus rating of “Hold” and an average target price of $60.00.

Sun Hydraulics (NASDAQ SNHY) opened at $67.75 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.62 and a quick ratio of 1.96. The stock has a market cap of $1,829.89, a price-to-earnings ratio of 56.93 and a beta of 1.79. Sun Hydraulics has a 12 month low of $34.17 and a 12 month high of $69.84.

Sun Hydraulics (NASDAQ:SNHY) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating the 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 net margin of 10.34% and a return on equity of 15.54%. Sun Hydraulics’s revenue was up 94.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. equities research analysts anticipate that Sun Hydraulics will post 1.65 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of SNHY. Wasatch Advisors Inc. acquired a new position in shares of Sun Hydraulics during the 3rd quarter worth $40,790,000. Janus Henderson Group PLC acquired a new position in shares of Sun Hydraulics during the 2nd quarter worth $22,193,000. Conestoga Capital Advisors LLC grew its stake in shares of Sun Hydraulics by 19.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,038,477 shares of the industrial products company’s stock worth $56,078,000 after purchasing an additional 171,018 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Sun Hydraulics by 186.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 258,333 shares of the industrial products company’s stock worth $11,023,000 after purchasing an additional 168,220 shares during the period. Finally, RK Capital Management LLC acquired a new position in shares of Sun Hydraulics during the 2nd quarter worth $7,173,000. 79.46% of the stock is currently owned by institutional investors and hedge funds.

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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.

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