Sun Hydraulics Corp. (NASDAQ:SNHY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “Sun Hydraulics is a leading designer and manufacturer of high-performance, screw-in hydraulic cartridge valves and manifolds which control force, speed and motion as integral components in fluid power systems. The Company sells its products globally through independent distributors. “

Separately, Robert W. Baird upgraded Sun Hydraulics Corp. from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $27.00 to $35.00 in a research report on Tuesday.

Sun Hydraulics Corp. (NASDAQ:SNHY) opened at 39.36 on Friday. The stock has a market cap of $1.06 billion, a P/E ratio of 36.75 and a beta of 1.74. The firm’s 50 day moving average price is $30.89 and its 200-day moving average price is $30.57. Sun Hydraulics Corp. has a 12-month low of $24.00 and a 12-month high of $39.61.

Sun Hydraulics Corp. (NASDAQ:SNHY) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $45.20 million for the quarter, compared to analysts’ expectations of $46.49 million. Sun Hydraulics Corp. had a net margin of 13.22% and a return on equity of 10.91%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Equities research analysts anticipate that Sun Hydraulics Corp. will post $0.97 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Friday, September 30th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Wednesday, September 28th. Sun Hydraulics Corp.’s payout ratio is 37.90%.

In other Sun Hydraulics Corp. news, Director Christine L. Koski sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $32.17, for a total value of $257,360.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christine L. Koski sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $30.04, for a total transaction of $300,400.00. The disclosure for this sale can be found here. 10.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in SNHY. American International Group Inc. increased its stake in shares of Sun Hydraulics Corp. by 0.7% in the second quarter. American International Group Inc. now owns 13,394 shares of the company’s stock valued at $398,000 after buying an additional 89 shares during the last quarter. BB&T Securities LLC increased its stake in shares of Sun Hydraulics Corp. by 2.4% in the second quarter. BB&T Securities LLC now owns 7,365 shares of the company’s stock valued at $218,000 after buying an additional 175 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Sun Hydraulics Corp. by 0.4% in the first quarter. Loomis Sayles & Co. L P now owns 56,833 shares of the company’s stock valued at $1,886,000 after buying an additional 211 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Sun Hydraulics Corp. by 1.0% in the second quarter. California State Teachers Retirement System now owns 48,789 shares of the company’s stock valued at $1,449,000 after buying an additional 499 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Sun Hydraulics Corp. by 1.9% in the second quarter. Rhumbline Advisers now owns 27,433 shares of the company’s stock valued at $814,000 after buying an additional 512 shares during the last quarter. 76.05% of the stock is owned by institutional investors and hedge funds.

Sun Hydraulics Corp. Company Profile

Sun Hydraulics Corporation (Sun) designs and manufactures screw-in hydraulic cartridge valves and manifolds, which control force, speed and motion as integral components in fluid power systems. The Company operates through manufacturing and distribution of hydraulic components segment. The Company, at components level, designs and manufactures screw-in hydraulic cartridge valves, manifolds, and integrates fluid power packages and subsystems.

5 Day Chart for NASDAQ:SNHY

Receive News & Stock Ratings for Sun Hydraulics Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Hydraulics Corp. and related stocks with our FREE daily email newsletter.