Sun Hydraulics (SNHY) Stock Rating Lowered by BidaskClub
Sun Hydraulics (NASDAQ:SNHY) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Sun Hydraulics from a “hold” rating to a “strong-buy” rating and set a $63.00 price target for the company in a research report on Tuesday, October 17th. Sidoti assumed coverage on shares of Sun Hydraulics in a research report 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 boosted their price target for the company from $55.00 to $57.00 in a research report on Friday, October 13th. Three investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. Sun Hydraulics presently has an average rating of “Buy” and an average target price of $60.00.
Sun Hydraulics (SNHY) opened at $57.01 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.96 and a current ratio of 2.62. The company has a market cap of $1,524.23, a price-to-earnings ratio of 38.83 and a beta of 1.79. Sun Hydraulics has a 12 month low of $34.17 and a 12 month high of $63.63.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. lifted its position in Sun Hydraulics by 191.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,337 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 1,536 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Sun Hydraulics by 542.0% in the second quarter. BNP Paribas Arbitrage SA now owns 3,486 shares of the industrial products company’s stock valued at $149,000 after buying an additional 2,943 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Sun Hydraulics by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,060 shares of the industrial products company’s stock valued at $173,000 after buying an additional 608 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of Sun Hydraulics in the third quarter valued at about $201,000. Finally, Hartland & Co. LLC purchased a new stake in shares of Sun Hydraulics in the third quarter valued at about $203,000. 79.46% of the stock is owned by hedge funds and other institutional investors.
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Sun Hydraulics 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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