Robert W. Baird set a $50.00 target price on Sun Hydraulics (NASDAQ:SNHY) in a research report sent to investors on Tuesday. The brokerage currently has a hold rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Sun Hydraulics from a sell rating to a hold rating in a report on Tuesday, July 10th. ValuEngine lowered shares of Sun Hydraulics from a buy rating to a hold rating in a report on Friday, April 13th. Zacks Investment Research lowered shares of Sun Hydraulics from a hold rating to a sell rating in a report on Sunday, July 15th. Stifel Nicolaus lowered their price target on shares of Sun Hydraulics from $61.00 to $57.00 and set a buy rating on the stock in a report on Wednesday, May 9th. Finally, Sidoti lowered shares of Sun Hydraulics from a buy rating to a neutral rating in a report on Tuesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $59.50.

NASDAQ:SNHY opened at $49.09 on Tuesday. Sun Hydraulics has a one year low of $44.20 and a one year high of $70.83. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 30.68 and a beta of 1.77.

Sun Hydraulics (NASDAQ:SNHY) last posted its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.12). Sun Hydraulics had a net margin of 9.27% and a return on equity of 14.12%. The business had revenue of $136.20 million during the quarter, compared to analysts’ expectations of $139.80 million. During the same period in the previous year, the company posted $0.27 earnings per share. Sun Hydraulics’s revenue for the quarter was up 52.5% compared to the same quarter last year. equities research analysts anticipate that Sun Hydraulics will post 1.91 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 20th. Shareholders of record on Thursday, July 5th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Tuesday, July 3rd. Sun Hydraulics’s payout ratio is 22.50%.

In other news, Director Christine L. Koski sold 35,000 shares of the stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $50.63, for a total transaction of $1,772,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Robert C. Koski sold 5,000 shares of the stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $50.03, for a total transaction of $250,150.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,000 shares of company stock worth $4,615,570. Corporate insiders own 7.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of Sun Hydraulics by 8.3% during the 2nd quarter. Rhumbline Advisers now owns 30,314 shares of the industrial products company’s stock worth $1,461,000 after acquiring an additional 2,315 shares in the last quarter. Wasatch Advisors Inc. boosted its stake in shares of Sun Hydraulics by 12.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,314,584 shares of the industrial products company’s stock worth $111,540,000 after acquiring an additional 248,891 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Sun Hydraulics during the 2nd quarter worth about $275,000. Conestoga Capital Advisors LLC boosted its stake in shares of Sun Hydraulics by 6.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,248,622 shares of the industrial products company’s stock worth $60,171,000 after acquiring an additional 72,645 shares in the last quarter. Finally, Fred Alger Management Inc. boosted its stake in shares of Sun Hydraulics by 22.6% during the 2nd quarter. Fred Alger Management Inc. now owns 742,056 shares of the industrial products company’s stock worth $35,760,000 after acquiring an additional 136,836 shares in the last quarter. 83.21% of the stock is currently owned by institutional investors and hedge funds.

Sun Hydraulics Company Profile

Sun Hydraulics Corporation designs, manufactures, and sells screw-in hydraulic cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems worldwide. The company operates through two segments, Hydraulics and Electronics. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems.

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Analyst Recommendations for Sun Hydraulics (NASDAQ:SNHY)

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