Hyster-Yale (NYSE:HY) Shares Gap Down – Time to Sell?
by Kim Johansen · The Markets DailyHyster-Yale, Inc. (NYSE:HY – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $33.54, but opened at $31.98. Hyster-Yale shares last traded at $32.3470, with a volume of 2,236 shares traded.
Analysts Set New Price Targets
A number of brokerages have recently commented on HY. Weiss Ratings downgraded shares of Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Hyster-Yale from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Hyster-Yale from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. One equities 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 stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $45.00.
View Our Latest Stock Analysis on Hyster-Yale
Hyster-Yale Stock Down 3.6%
The firm has a fifty day simple moving average of $35.80 and a 200-day simple moving average of $34.82. The firm has a market cap of $570.82 million, a price-to-earnings ratio of -5.70 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.67 and a current ratio of 1.31.
Hyster-Yale (NYSE:HY – Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $795.20 million for the quarter, compared to the consensus estimate of $878.10 million. Hyster-Yale had a negative net margin of 2.71% and a negative return on equity of 13.96%. As a group, sell-side analysts expect that Hyster-Yale, Inc. will post -2.75 EPS for the current year.
Hyster-Yale Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 1st were paid a $0.365 dividend. This is an increase from Hyster-Yale’s previous quarterly dividend of $0.36. The ex-dividend date was Monday, June 1st. This represents a $1.46 dividend on an annualized basis and a yield of 4.6%. Hyster-Yale’s dividend payout ratio (DPR) is currently -26.12%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Optiver Holding B.V. bought a new stake in shares of Hyster-Yale during the first quarter worth approximately $33,000. Bank of America Corp DE increased its stake in shares of Hyster-Yale by 14.2% during the first quarter. Bank of America Corp DE now owns 31,867 shares of the industrial products company’s stock worth $1,036,000 after purchasing an additional 3,951 shares during the period. Amundi increased its stake in shares of Hyster-Yale by 38.9% during the first quarter. Amundi now owns 12,520 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 3,507 shares during the period. Parvin Asset Management LLC lifted its holdings in Hyster-Yale by 10.3% during the 1st quarter. Parvin Asset Management LLC now owns 8,870 shares of the industrial products company’s stock worth $288,000 after purchasing an additional 825 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Hyster-Yale by 9.6% during the 1st quarter. Empowered Funds LLC now owns 73,025 shares of the industrial products company’s stock worth $2,374,000 after purchasing an additional 6,416 shares during the last quarter. 46.47% of the stock is owned by institutional investors.
About Hyster-Yale
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.