Sun Hydraulics Corporation (SNHY) Given $55.00 Average Target Price by Analysts
Shares of Sun Hydraulics Corporation (NASDAQ:SNHY) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a 1-year consensus price target of $55.00 for the company and are predicting that the company will post $0.34 earnings per share for the current quarter, according to Zacks. Zacks has also given Sun Hydraulics Corporation an industry rank of 69 out of 265 based on the ratings given to its competitors.
Several research analysts have weighed in on SNHY shares. BidaskClub lowered shares of Sun Hydraulics Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Zacks Investment Research lowered shares of Sun Hydraulics Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Sidoti started coverage on shares of Sun Hydraulics Corporation in a research note on Thursday, September 14th. They issued a “neutral” rating on the stock.
In other Sun Hydraulics Corporation news, Director Christine L. Koski sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $49.87, for a total value of $748,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine L. Koski sold 16,547 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $47.01, for a total transaction of $777,874.47. The disclosure for this sale can be found here. Insiders sold 85,440 shares of company stock valued at $4,070,619 over the last three months. Insiders own 10.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in Sun Hydraulics Corporation by 6.3% in the first quarter. Victory Capital Management Inc. now owns 3,452 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 204 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Sun Hydraulics Corporation by 542.0% in the second quarter. BNP Paribas Arbitrage SA now owns 3,486 shares of the industrial products company’s stock worth $149,000 after acquiring an additional 2,943 shares in the last quarter. Commerce Bank bought a new stake in Sun Hydraulics Corporation in the second quarter worth approximately $231,000. Legal & General Group Plc grew its position in Sun Hydraulics Corporation by 2.9% in the second quarter. Legal & General Group Plc now owns 5,764 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 160 shares in the last quarter. Finally, Affinity Investment Advisors LLC bought a new stake in Sun Hydraulics Corporation in the second quarter worth approximately $247,000. 79.94% of the stock is owned by institutional investors.
Shares of Sun Hydraulics Corporation (NASDAQ SNHY) traded up 2.01% during trading on Monday, hitting $57.33. 124,062 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $51.08 and its 200 day moving average is $43.55. Sun Hydraulics Corporation has a 1-year low of $28.88 and a 1-year high of $57.43. The firm has a market capitalization of $1.55 billion, a PE ratio of 60.35 and a beta of 1.76.
Sun Hydraulics Corporation (NASDAQ:SNHY) last released its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.13. The firm had revenue of $89.30 million for the quarter, compared to analyst estimates of $79.18 million. Sun Hydraulics Corporation had a net margin of 9.63% and a return on equity of 13.25%. The company’s revenue for the quarter was up 75.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS. On average, equities research analysts forecast that Sun Hydraulics Corporation will post $1.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Thursday, October 5th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.63%. The ex-dividend date is Wednesday, October 4th. Sun Hydraulics Corporation’s dividend payout ratio is 37.50%.
About Sun Hydraulics Corporation
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.
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