William Blair assumed coverage on shares of Sun Hydraulics (NASDAQ:SNHY) in a report released on Friday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating on the industrial products company’s stock.
Other research analysts also recently issued research reports about the company. BidaskClub downgraded Sun Hydraulics from a strong-buy rating to a buy rating in a research note on Wednesday, December 6th. SunTrust Banks initiated coverage on Sun Hydraulics in a research note on Monday, February 5th. They issued 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 downgraded Sun Hydraulics from a strong-buy rating to a hold rating in a research note on Wednesday, January 10th. Finally, KeyCorp initiated coverage on Sun Hydraulics in a research note on Monday, February 5th. They issued an overweight rating and a $67.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $63.50.
Sun Hydraulics (NASDAQ SNHY) opened at $57.62 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.62 and a quick ratio of 1.96. The firm has a market capitalization of $1,550.00, a price-to-earnings ratio of 48.83 and a beta of 1.68. Sun Hydraulics has a 12 month low of $34.17 and a 12 month high of $70.83.
Hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new stake in Sun Hydraulics during the 4th quarter worth $204,000. MetLife Investment Advisors LLC acquired a new stake in Sun Hydraulics during the 4th quarter worth $683,000. Metropolitan Life Insurance Co. NY acquired a new stake in Sun Hydraulics during the 4th quarter worth $479,000. Goldman Sachs Group Inc. raised its stake in Sun Hydraulics by 59.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 45,723 shares of the industrial products company’s stock worth $2,958,000 after buying an additional 17,060 shares during the period. Finally, Deutsche Bank AG raised its stake in Sun Hydraulics by 25.6% during the 4th quarter. Deutsche Bank AG now owns 52,510 shares of the industrial products company’s stock worth $3,394,000 after buying an additional 10,702 shares during the period. 68.94% of the stock is currently owned by institutional investors.
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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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