Sun Hydraulics (SNHY) Cut to “Hold” at ValuEngine
ValuEngine downgraded shares of Sun Hydraulics (NASDAQ:SNHY) from a buy rating to a hold rating in a research note published on Wednesday morning.
Other equities analysts have also issued research reports about the company. BidaskClub lowered Sun Hydraulics from a strong-buy rating to a buy rating in a research note on Wednesday, December 6th. SunTrust Banks began coverage on Sun Hydraulics in a research note on Monday, February 5th. They set a buy rating on the stock. Sidoti raised Sun Hydraulics from a neutral rating to a buy rating and set a $69.00 price target on the stock in a research note on Tuesday, February 13th. Zacks Investment Research lowered Sun Hydraulics from a strong-buy rating to a hold rating in a research note on Wednesday, January 10th. Finally, William Blair began coverage on Sun Hydraulics in a research note on Friday, February 23rd. They set an outperform rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Sun Hydraulics presently has an average rating of Hold and an average price target of $63.50.
Sun Hydraulics (NASDAQ SNHY) traded up $1.44 during trading on Wednesday, reaching $56.29. The company’s stock had a trading volume of 165,401 shares, compared to its average volume of 319,130. The company has a current ratio of 3.20, a quick ratio of 2.29 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1,772.29, a price-to-earnings ratio of 35.18 and a beta of 1.79. Sun Hydraulics has a one year low of $34.17 and a one year high of $70.83.
Institutional investors and hedge funds have recently modified their holdings of the company. Conestoga Capital Advisors LLC lifted its stake in shares of Sun Hydraulics by 17.8% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,222,892 shares of the industrial products company’s stock valued at $79,109,000 after acquiring an additional 184,415 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Sun Hydraulics by 2.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 109,051 shares of the industrial products company’s stock valued at $5,889,000 after acquiring an additional 2,550 shares during the period. Wasatch Advisors Inc. lifted its stake in shares of Sun Hydraulics by 94.6% during the fourth quarter. Wasatch Advisors Inc. now owns 1,469,841 shares of the industrial products company’s stock valued at $95,084,000 after acquiring an additional 714,473 shares during the period. State Street Corp lifted its stake in shares of Sun Hydraulics by 7.5% during the second quarter. State Street Corp now owns 447,893 shares of the industrial products company’s stock valued at $19,111,000 after acquiring an additional 31,402 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Sun Hydraulics by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 869,720 shares of the industrial products company’s stock valued at $46,965,000 after acquiring an additional 2,989 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.
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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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