Robert W. Baird downgraded shares of Sun Hydraulics Corporation (NASDAQ:SNHY) from an outperform rating to a neutral rating in a report released on Friday morning, MarketBeat reports. Robert W. Baird currently has $57.00 price objective on the industrial products company’s stock, up from their prior price objective of $55.00.

Several other research firms have also recently weighed in on SNHY. Zacks Investment Research upgraded shares of Sun Hydraulics Corporation from a hold rating to a strong-buy rating and set a $54.00 price objective for the company in a research report on Friday, August 11th. Sidoti started coverage on shares of Sun Hydraulics Corporation in a research report on Thursday, September 14th. They issued a neutral rating for the company. Finally, BidaskClub cut shares of Sun Hydraulics Corporation from a hold rating to a sell rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Sun Hydraulics Corporation currently has a consensus rating of Hold and an average price target of $55.50.

Sun Hydraulics Corporation (NASDAQ SNHY) opened at 54.95 on Friday. Sun Hydraulics Corporation has a 12-month low of $28.88 and a 12-month high of $57.73. The company has a market capitalization of $1.49 billion, a PE ratio of 57.84 and a beta of 1.76. The stock has a 50 day moving average of $52.40 and a 200 day moving average of $44.14.

Sun Hydraulics Corporation (NASDAQ:SNHY) last announced its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.13. The firm had revenue of $89.30 million during the quarter, compared to the consensus estimate of $79.18 million. Sun Hydraulics Corporation had a net margin of 9.63% and a return on equity of 13.25%. The firm’s quarterly revenue was up 75.8% on a year-over-year basis. During the same period last year, the firm posted $0.26 EPS. On average, equities research analysts predict that Sun Hydraulics Corporation will post $1.56 EPS for the current year.

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The business also recently disclosed 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 0.66%. The ex-dividend date is Wednesday, October 4th. Sun Hydraulics Corporation’s payout ratio is presently 37.50%.

In other news, Director Christine L. Koski sold 16,547 shares of Sun Hydraulics Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $47.01, for a total transaction of $777,874.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christine L. Koski sold 20,000 shares of Sun Hydraulics Corporation stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $47.33, for a total transaction of $946,600.00. The disclosure for this sale can be found here. Insiders sold a total of 85,440 shares of company stock valued at $4,070,619 in the last 90 days. Corporate insiders own 10.70% of the company’s stock.

Several large investors have recently modified their holdings of the company. Royce & Associates LP grew its position in shares of Sun Hydraulics Corporation by 1.3% during the 2nd quarter. Royce & Associates LP now owns 2,128,780 shares of the industrial products company’s stock worth $90,835,000 after buying an additional 28,200 shares during the period. Vanguard Group Inc. grew its position in shares of Sun Hydraulics Corporation by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,880,090 shares of the industrial products company’s stock worth $80,223,000 after buying an additional 73,703 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Sun Hydraulics Corporation by 7.9% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 867,459 shares of the industrial products company’s stock worth $37,014,000 after buying an additional 63,483 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Sun Hydraulics Corporation by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 866,731 shares of the industrial products company’s stock worth $36,983,000 after buying an additional 6,593 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Sun Hydraulics Corporation by 17.0% during the 1st quarter. Renaissance Technologies LLC now owns 744,875 shares of the industrial products company’s stock worth $26,897,000 after buying an additional 108,275 shares during the period. Institutional investors own 79.94% of the company’s stock.

Sun Hydraulics Corporation Company Profile

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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