Sun Hydraulics (SNHY) Downgraded by BidaskClub

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BidaskClub lowered shares of Sun Hydraulics (NASDAQ:SNHY) from a buy rating to a hold rating in a research report report published on Friday.

Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Sun Hydraulics from a hold rating to a buy rating and set a $53.00 price objective on the stock in a research note on Saturday, March 2nd. William Blair reaffirmed an outperform rating on shares of Sun Hydraulics in a research note on Tuesday, February 26th. ValuEngine cut shares of Sun Hydraulics from a hold rating to a sell rating in a research note on Friday, March 15th. TheStreet cut shares of Sun Hydraulics from a b- rating to a c+ rating in a research note on Wednesday, February 6th. Finally, SunTrust Banks upped their price objective on shares of Sun Hydraulics to $53.00 and gave the stock a buy rating in a research note on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $51.17.

NASDAQ SNHY opened at $44.62 on Friday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 19.40 and a beta of 1.73. Sun Hydraulics has a twelve month low of $30.79 and a twelve month high of $58.13. The company has a current ratio of 2.12, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

Sun Hydraulics (NASDAQ:SNHY) last posted its earnings results on Monday, February 25th. The industrial products company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. The business had revenue of $138.72 million for the quarter, compared to analysts’ expectations of $134.51 million. Sun Hydraulics had a net margin of 9.20% and a return on equity of 11.38%. The firm’s revenue for the quarter was up 64.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, research analysts anticipate that Sun Hydraulics will post 2.6 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 20th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.36 annualized dividend and a yield of 0.81%. Sun Hydraulics’s dividend payout ratio is 15.65%.

In other news, major shareholder Robert C. Koski sold 2,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $49.25, for a total transaction of $123,125.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gary A. Gotting sold 600 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $47.00, for a total transaction of $28,200.00. Following the sale, the insider now directly owns 9,910 shares in the company, valued at $465,770. The disclosure for this sale can be found here. Insiders have sold 8,100 shares of company stock worth $399,825 over the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cutler Group LP bought a new stake in shares of Sun Hydraulics during the fourth quarter valued at approximately $26,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sun Hydraulics by 26.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,193 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 465 shares during the last quarter. Clearstead Advisors LLC bought a new stake in shares of Sun Hydraulics during the third quarter valued at approximately $205,000. Private Advisor Group LLC acquired a new position in Sun Hydraulics in the third quarter valued at approximately $219,000. Finally, D.A. Davidson & CO. acquired a new position in Sun Hydraulics in the third quarter valued at approximately $223,000. 88.61% of the stock is currently owned by institutional investors and hedge funds.

Sun Hydraulics Company Profile

Sun Hydraulics Corporation, doing business as Helios Technologies, develops, manufactures, and sells solutions for the hydraulics and electronics markets. The company operates through two segments, Hydraulics and Electronics. The Hydraulics segment offers screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the industrial and mobile hydraulics markets; quick release hydraulic coupling solutions for the agriculture, construction equipment, and industrial markets; and hydraulic, pneumatic, electronic, and instrumentation solutions to a range of industries, including agriculture, industrial, mining, and material handling.

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Analyst Recommendations for Sun Hydraulics (NASDAQ:SNHY)

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