Sidoti assumed coverage on shares of Sun Hydraulics Corporation (NASDAQ:SNHY) in a research report released on Thursday, The Fly reports. The firm issued a neutral rating on the industrial products company’s stock.
SNHY has been the subject of several other research reports. BidaskClub lowered Sun Hydraulics Corporation from a buy rating to a hold rating in a research report on Saturday, June 17th. Zacks Investment Research lowered Sun Hydraulics Corporation from a strong-buy rating to a hold rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $44.50.
Shares of Sun Hydraulics Corporation (NASDAQ SNHY) opened at 51.08 on Thursday. The firm has a 50-day moving average price of $46.75 and a 200-day moving average price of $41.38. Sun Hydraulics Corporation has a 52 week low of $28.53 and a 52 week high of $51.38. The stock has a market cap of $1.38 billion, a PE ratio of 53.77 and a beta of 1.78.
Sun Hydraulics Corporation (NASDAQ:SNHY) last issued its earnings results on Monday, August 7th. The industrial products company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.39 by $0.13. The company had revenue of $89.30 million during the quarter, compared to analyst estimates of $79.18 million. Sun Hydraulics Corporation had a return on equity of 13.25% and a net margin of 9.63%. The business’s revenue was up 75.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. On average, analysts forecast that Sun Hydraulics Corporation will post $1.55 earnings per share for the current fiscal year.
In related news, Director Christine L. Koski sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $49.87, for a total transaction of $748,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine L. Koski sold 19,140 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $47.26, for a total value of $904,556.40. The disclosure for this sale can be found here. Insiders have sold a total of 85,440 shares of company stock valued at $4,070,619 in the last 90 days. Insiders own 10.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SNHY. Janus Henderson Group PLC acquired a new position in Sun Hydraulics Corporation during the 2nd quarter valued at approximately $22,193,000. GW&K Investment Management LLC acquired a new position in Sun Hydraulics Corporation during the 2nd quarter valued at approximately $19,460,000. RidgeWorth Capital Management LLC boosted its position in Sun Hydraulics Corporation by 510.8% during the 1st quarter. RidgeWorth Capital Management LLC now owns 387,051 shares of the industrial products company’s stock valued at $14,011,000 after purchasing an additional 323,684 shares during the period. Ameriprise Financial Inc. boosted its position in Sun Hydraulics Corporation by 186.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 258,333 shares of the industrial products company’s stock valued at $11,023,000 after purchasing an additional 168,220 shares during the period. Finally, RK Capital Management LLC acquired a new position in Sun Hydraulics Corporation during the 2nd quarter valued at approximately $7,173,000. Institutional investors and hedge funds own 79.94% of the company’s stock.
Sun Hydraulics Corporation 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.
Receive News & Ratings for Sun Hydraulics Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Hydraulics Corporation and related companies with our FREE daily email newsletter.