China Yuchai International (NYSE:CYD) Stock Price Down 8% – Should You Sell?

Shares of China Yuchai International Limited (NYSE:CYD) traded down 8% during mid-day trading on Wednesday . The company traded as low as $44.37 and last traded at $44.16. 369,524 shares were traded during trading, an increase of 86% from the average session volume of 198,214 shares. The stock had previously closed at $47.99.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CYD. Weiss Ratings restated a “hold (c+)” rating on shares of China Yuchai International in a research report on Monday, December 22nd. UBS Group assumed coverage on China Yuchai International in a research report on Tuesday, January 6th. They set a “buy” rating and a $60.00 target price for the company. Wall Street Zen upgraded China Yuchai International from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. Finally, Zacks Research upgraded China Yuchai International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, China Yuchai International presently has an average rating of “Buy” and an average target price of $60.00.

China Yuchai International Price Performance

The company has a 50-day moving average price of $44.11 and a 200-day moving average price of $38.81.

Institutional Trading of China Yuchai International

A number of institutional investors and hedge funds have recently modified their holdings of CYD. UBS Group AG boosted its stake in China Yuchai International by 752.8% during the 3rd quarter. UBS Group AG now owns 849,464 shares of the company’s stock worth $35,142,000 after acquiring an additional 749,861 shares during the last quarter. Millennium Management LLC raised its holdings in China Yuchai International by 157.3% in the third quarter. Millennium Management LLC now owns 720,231 shares of the company’s stock worth $29,796,000 after purchasing an additional 440,278 shares during the period. Renaissance Technologies LLC boosted its position in shares of China Yuchai International by 3.4% during the fourth quarter. Renaissance Technologies LLC now owns 278,494 shares of the company’s stock worth $9,887,000 after purchasing an additional 9,287 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of China Yuchai International by 73.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,141 shares of the company’s stock valued at $9,728,000 after buying an additional 99,260 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of China Yuchai International in the 2nd quarter valued at $4,759,000.

About China Yuchai International

China Yuchai International Ltd. (NYSE: CYD) is a Cayman Islands–incorporated holding company with principal executive offices in Singapore. Through its subsidiaries, the company is a leading manufacturer and distributor of diesel engines in the People’s Republic of China. Its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), has been producing diesel engines since 1951 and ranks among the country’s largest heavy-duty engine makers.

The company’s core product portfolio includes high-speed and medium-speed diesel engines for on-highway trucks and buses, off-road vehicles such as construction and agricultural machinery, marine propulsion systems, and power generator sets.