BidaskClub downgraded shares of Sun Hydraulics (NASDAQ:SNHY) from a strong-buy rating to a buy rating in a report published on Wednesday.

Several other equities research analysts have also recently weighed in on SNHY. Zacks Investment Research upgraded shares of Sun Hydraulics from a hold rating to a strong-buy rating and set a $54.00 target price for the company in a research note on Friday, August 11th. Sidoti assumed coverage on shares of Sun Hydraulics in a research note on Thursday, September 14th. They issued a neutral rating for the company. Finally, Robert W. Baird cut shares of Sun Hydraulics from an outperform rating to a neutral rating and increased their target price for the company from $55.00 to $57.00 in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $60.00.

Shares of Sun Hydraulics (SNHY) opened at $57.20 on Wednesday. The stock has a market capitalization of $1,548.58, a PE ratio of 39.45 and a beta of 1.79. Sun Hydraulics has a 1 year low of $34.17 and a 1 year high of $63.63. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.62 and a quick ratio of 1.96.

Sun Hydraulics (NASDAQ:SNHY) last issued its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.07. The company had revenue of $88.00 million for the quarter, compared to the consensus estimate of $80.66 million. Sun Hydraulics had a return on equity of 15.54% and a net margin of 10.34%. The firm’s revenue was up 94.7% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. sell-side analysts predict that Sun Hydraulics will post 1.65 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 20th. Investors of record on Friday, January 5th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, January 4th. Sun Hydraulics’s payout ratio is presently 30.25%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. lifted its stake in Sun Hydraulics by 191.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 2,337 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 1,536 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Sun Hydraulics by 542.0% during the second quarter. BNP Paribas Arbitrage SA now owns 3,486 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 2,943 shares during the period. Victory Capital Management Inc. lifted its stake in Sun Hydraulics by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,060 shares of the industrial products company’s stock worth $173,000 after purchasing an additional 608 shares during the period. Aperio Group LLC bought a new position in Sun Hydraulics during the third quarter worth about $201,000. Finally, Hartland & Co. LLC bought a new position in Sun Hydraulics during the third quarter worth about $203,000. Institutional investors and hedge funds own 79.46% of the company’s stock.

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About Sun Hydraulics

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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