Sun Hydraulics Corporation (SNHY) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Sun Hydraulics Corporation (NASDAQ:SNHY) from a hold rating to a strong-buy rating in a report published on Tuesday. They currently have $63.00 price target on the industrial products company’s stock.
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. “
Several other research firms also recently issued reports on SNHY. Robert W. Baird downgraded shares of Sun Hydraulics Corporation from an outperform rating to a neutral rating and increased their price objective for the company from $55.00 to $57.00 in a report on Friday, October 13th. Sidoti began coverage on shares of Sun Hydraulics Corporation in a report on Thursday, September 14th. They set a neutral rating on the stock. Finally, BidaskClub raised shares of Sun Hydraulics Corporation from a strong sell rating to a sell rating in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $60.00.
Shares of Sun Hydraulics Corporation (NASDAQ:SNHY) traded up 2.19% during mid-day trading on Tuesday, reaching $55.61. 100,823 shares of the company’s stock were exchanged. The company’s 50 day moving average is $53.28 and its 200 day moving average is $44.70. The stock has a market capitalization of $1.50 billion, a PE ratio of 58.54 and a beta of 1.76. Sun Hydraulics Corporation has a 1-year low of $28.88 and a 1-year high of $57.73.
Sun Hydraulics Corporation (NASDAQ:SNHY) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.13. The business had revenue of $89.30 million for 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 company’s revenue was up 75.8% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. Equities research analysts anticipate that Sun Hydraulics Corporation will post $1.56 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Thursday, October 5th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Wednesday, October 4th. Sun Hydraulics Corporation’s dividend payout ratio is currently 37.50%.
In other news, Director Christine L. Koski sold 14,753 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $47.01, for a total value of $693,538.53. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Christine L. Koski sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $49.87, for a total transaction of $748,050.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,440 shares of company stock worth $4,070,619. Insiders own 10.70% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Royce & Associates LP lifted its stake in shares of Sun Hydraulics Corporation by 1.3% in the second 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of Sun Hydraulics Corporation by 4.1% in the second 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 in the last quarter. Conestoga Capital Advisors LLC lifted its stake in shares of Sun Hydraulics Corporation by 7.9% in the second 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sun Hydraulics Corporation by 0.8% in the second 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Sun Hydraulics Corporation by 17.0% in the first 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 in the last quarter. 79.94% of the stock is currently owned by hedge funds and other institutional investors.
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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