Hyster-Yale (NYSE:HY) Upgraded to Hold at Zacks Research

Hyster-Yale (NYSE:HY) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Northland Securities raised 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 note on Thursday, March 5th. Finally, Wall Street Zen downgraded Hyster-Yale from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Hyster-Yale presently has a consensus rating of “Hold” and an average price target of $45.00.

Hyster-Yale Trading Up 4.0%

Shares of NYSE HY opened at $40.10 on Monday. Hyster-Yale has a 12 month low of $26.41 and a 12 month high of $44.55. The company has a market cap of $717.81 million, a price-to-earnings ratio of -11.79 and a beta of 1.66. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $35.26 and a 200-day simple moving average of $33.95.

Hyster-Yale (NYSE:HY) last announced its earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) EPS for the quarter, beating the consensus estimate of ($2.02) by $0.38. Hyster-Yale had a negative return on equity of 6.12% and a negative net margin of 1.59%.The business had revenue of $795.20 million during the quarter, compared to the consensus estimate of $878.10 million. Sell-side analysts predict that Hyster-Yale will post -2.94 EPS for the current year.

Institutional Investors Weigh In On Hyster-Yale

Several hedge funds have recently bought and sold shares of HY. ProShare Advisors LLC increased its position in Hyster-Yale by 11.3% in the 3rd quarter. ProShare Advisors LLC now owns 167,609 shares of the industrial products company’s stock worth $6,178,000 after purchasing an additional 17,007 shares during the last quarter. Gabelli Funds LLC increased its position in Hyster-Yale by 8.3% in the 4th quarter. Gabelli Funds LLC now owns 56,200 shares of the industrial products company’s stock worth $1,670,000 after purchasing an additional 4,300 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Hyster-Yale by 82.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 37,137 shares of the industrial products company’s stock worth $1,117,000 after purchasing an additional 16,740 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its position in Hyster-Yale by 127.3% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 20,128 shares of the industrial products company’s stock worth $598,000 after purchasing an additional 11,274 shares during the last quarter. Finally, Krilogy Financial LLC acquired a new position in Hyster-Yale in the 4th quarter worth about $384,000. 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.