StockNews.com Downgrades Hyster-Yale Materials Handling (NYSE:HY) to Hold

Hyster-Yale Materials Handling (NYSE:HY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

HY has been the topic of several other research reports. Northland Capmk lowered Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Roth Mkm reduced their price target on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Hyster-Yale Materials Handling presently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Stock Performance

Shares of HY traded up $2.62 during midday trading on Wednesday, reaching $56.09. 200,429 shares of the stock were exchanged, compared to its average volume of 56,370. The business’s 50-day moving average price is $62.77 and its 200 day moving average price is $66.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.31 and a quick ratio of 0.63. Hyster-Yale Materials Handling has a twelve month low of $41.75 and a twelve month high of $84.44. The company has a market capitalization of $981.58 million, a price-to-earnings ratio of 5.61 and a beta of 1.32.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $1.30. Hyster-Yale Materials Handling had a return on equity of 44.49% and a net margin of 4.13%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $2.21 EPS. On average, sell-side analysts expect that Hyster-Yale Materials Handling will post 9.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in shares of Hyster-Yale Materials Handling by 0.5% during the 2nd quarter. CWM LLC now owns 41,992 shares of the industrial products company’s stock valued at $2,928,000 after acquiring an additional 192 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Hyster-Yale Materials Handling by 4.7% during the second quarter. The Manufacturers Life Insurance Company now owns 4,442 shares of the industrial products company’s stock valued at $310,000 after buying an additional 200 shares during the last quarter. Summit Global Investments increased its stake in Hyster-Yale Materials Handling by 2.4% in the second quarter. Summit Global Investments now owns 10,334 shares of the industrial products company’s stock valued at $721,000 after acquiring an additional 240 shares during the period. Mcdonald Partners LLC increased its stake in Hyster-Yale Materials Handling by 0.9% in the second quarter. Mcdonald Partners LLC now owns 40,256 shares of the industrial products company’s stock valued at $2,807,000 after acquiring an additional 352 shares during the period. Finally, AQR Capital Management LLC increased its stake in Hyster-Yale Materials Handling by 0.5% in the second quarter. AQR Capital Management LLC now owns 76,587 shares of the industrial products company’s stock valued at $5,340,000 after acquiring an additional 363 shares during the period. Institutional investors and hedge funds own 46.47% of the company’s stock.

About Hyster-Yale Materials Handling

Hyster-Yale, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.