Sun Hydraulics (SNHY) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Sun Hydraulics (NASDAQ:SNHY) from a sell rating to a hold rating in a research note published on Friday.

A number of other equities analysts have also recently issued reports on the company. SunTrust Banks initiated coverage on Sun Hydraulics in a report on Monday, February 5th. They set a buy rating for the company. Zacks Investment Research cut Sun Hydraulics from a strong-buy rating to a hold rating and set a $61.00 price objective for the company. in a report on Friday, February 9th. KeyCorp initiated coverage on Sun Hydraulics in a report on Monday, February 5th. They set an overweight rating and a $67.00 price objective for the company. William Blair initiated coverage on Sun Hydraulics in a report on Friday, February 23rd. They set an outperform rating for the company. Finally, Sidoti upgraded Sun Hydraulics from a neutral rating to a buy rating and set a $69.00 price objective for the company in a report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $63.00.

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Sun Hydraulics (SNHY) traded down $0.47 on Friday, reaching $53.61. The company had a trading volume of 193,700 shares, compared to its average volume of 253,703. Sun Hydraulics has a one year low of $34.17 and a one year high of $70.83. 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 stock has a market cap of $1,702.69, a PE ratio of 33.80 and a beta of 1.79.

Sun Hydraulics (NASDAQ:SNHY) last posted its quarterly earnings data on Monday, February 26th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. Sun Hydraulics had a return on equity of 16.58% and a net margin of 9.20%. The company had revenue of $84.15 million during the quarter, compared to analysts’ expectations of $83.79 million. During the same quarter in the previous year, the business earned $0.18 EPS. Sun Hydraulics’s revenue was up 68.7% compared to the same quarter last year. sell-side analysts anticipate that Sun Hydraulics will post 1.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Thursday, April 5th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Wednesday, April 4th. Sun Hydraulics’s dividend payout ratio (DPR) is presently 30.77%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Conestoga Capital Advisors LLC raised its position in Sun Hydraulics by 17.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,222,892 shares of the industrial products company’s stock valued at $79,109,000 after purchasing an additional 184,415 shares in the last quarter. Amalgamated Bank bought a new stake in Sun Hydraulics during the 4th quarter valued at $208,000. Schwab Charles Investment Management Inc. raised its position in Sun Hydraulics by 2.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 109,051 shares of the industrial products company’s stock valued at $5,889,000 after purchasing an additional 2,550 shares in the last quarter. Wasatch Advisors Inc. raised its position in Sun Hydraulics by 94.6% during the 4th quarter. Wasatch Advisors Inc. now owns 1,469,841 shares of the industrial products company’s stock valued at $95,084,000 after purchasing an additional 714,473 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Sun Hydraulics by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 869,720 shares of the industrial products company’s stock valued at $46,965,000 after purchasing an additional 2,989 shares in the last quarter. 70.06% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Sun Hydraulics (NASDAQ:SNHY)

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