Hyster-Yale (NYSE:HY) Lowered to “Sell” Rating by Wall Street Zen

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

A number of other analysts have also issued reports on HY. Zacks Research raised shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings downgraded shares of Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.00.

Hyster-Yale Trading Down 0.0%

HY opened at $33.49 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.67 and a current ratio of 1.31. The stock’s 50 day moving average price is $34.60 and its 200-day moving average price is $35.04. Hyster-Yale has a one year low of $26.41 and a one year high of $42.33. The stock has a market cap of $600.07 million, a price-to-earnings ratio of -5.99 and a beta of 1.61.

Hyster-Yale (NYSE:HY) last issued its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.02) by $0.38. The firm had revenue of $795.20 million during the quarter, compared to analyst estimates of $878.10 million. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%. On average, equities analysts forecast that Hyster-Yale will post -2.75 EPS for the current year.

Hyster-Yale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 1st were paid a dividend of $0.365 per share. This is a boost from Hyster-Yale’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Monday, June 1st. Hyster-Yale’s payout ratio is -26.12%.

Hedge Funds Weigh In On Hyster-Yale

Several institutional investors have recently bought and sold shares of HY. Dimensional Fund Advisors LP lifted its holdings in Hyster-Yale by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 587,683 shares of the industrial products company’s stock worth $19,105,000 after buying an additional 28,642 shares during the period. Valueworks LLC increased its holdings in shares of Hyster-Yale by 33.2% in the 4th quarter. Valueworks LLC now owns 399,344 shares of the industrial products company’s stock valued at $11,865,000 after acquiring an additional 99,538 shares during the period. State Street Corp increased its holdings in shares of Hyster-Yale by 12.1% in the 4th quarter. State Street Corp now owns 307,794 shares of the industrial products company’s stock valued at $9,145,000 after acquiring an additional 33,281 shares during the period. Deprince Race & Zollo Inc. bought a new position in shares of Hyster-Yale in the 1st quarter worth $8,696,000. Finally, Millennium Management LLC raised its position in shares of Hyster-Yale by 1.5% in the 4th quarter. Millennium Management LLC now owns 224,251 shares of the industrial products company’s stock worth $6,662,000 after acquiring an additional 3,401 shares in the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

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.