Brokerages Set $54.16 Target Price for Hyster-Yale Materials Handling Inc. (HY)
Hyster-Yale Materials Handling Inc. (NYSE:HY) has earned an average broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Hyster-Yale Materials Handling’s rating score has improved by 22.3% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 1 year consensus price objective of $54.16 for the company and are expecting that the company will post $0.87 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Hyster-Yale Materials Handling an industry rank of 233 out of 265 based on the ratings given to related companies.
HY has been the topic of a number of recent research reports. Zacks Investment Research cut Hyster-Yale Materials Handling from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Sidoti raised Hyster-Yale Materials Handling from a “neutral” rating to a “buy” rating in a report on Friday, September 23rd.
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In other news, insider Victoire G. Rankin acquired 5,933 shares of the business’s stock in a transaction dated Friday, September 23rd. The stock was purchased at an average price of $55.06 per share, for a total transaction of $326,670.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred M. Et Al Rankin acquired 669 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were purchased at an average price of $61.34 per share, with a total value of $41,036.46. The disclosure for this purchase can be found here. Company insiders own 25.56% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. QV Investors Inc. raised its position in shares of Hyster-Yale Materials Handling by 36.8% in the third quarter. QV Investors Inc. now owns 372,125 shares of the company’s stock worth $22,376,000 after buying an additional 100,019 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of Hyster-Yale Materials Handling by 19.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 561,620 shares of the company’s stock worth $33,411,000 after buying an additional 93,026 shares during the last quarter. Foundry Partners LLC purchased a new position in shares of Hyster-Yale Materials Handling during the second quarter worth $4,931,000. Matarin Capital Management LLC purchased a new position in shares of Hyster-Yale Materials Handling during the third quarter worth $3,810,000. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Hyster-Yale Materials Handling during the second quarter worth $3,072,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.
Hyster-Yale Materials Handling (NYSE:HY) traded down 0.05% during trading on Wednesday, hitting $65.01. The stock had a trading volume of 14,487 shares. The company has a 50-day moving average of $59.34 and a 200 day moving average of $58.43. Hyster-Yale Materials Handling has a 52-week low of $44.41 and a 52-week high of $70.19. The firm has a market cap of $1.07 billion, a P/E ratio of 22.35 and a beta of 1.02.
Hyster-Yale Materials Handling (NYSE:HY) last announced its earnings results on Tuesday, November 1st. The company reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by $0.07. Hyster-Yale Materials Handling had a return on equity of 9.95% and a net margin of 1.89%. The company earned $629.30 million during the quarter, compared to the consensus estimate of $676.90 million. During the same period in the prior year, the business posted $1.28 earnings per share. Hyster-Yale Materials Handling’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that Hyster-Yale Materials Handling will post $2.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.295 per share. The ex-dividend date is Tuesday, November 29th. This represents a $1.18 dividend on an annualized basis and a yield of 1.81%. Hyster-Yale Materials Handling’s dividend payout ratio is presently 40.41%.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc, and its subsidiaries, design, engineer, manufacture, sell and service lift trucks and aftermarket parts. The Company markets its lift trucks and aftermarket parts under the Hyster and Yale brand names. The Company also operates through Nuvera Fuel Cells, Inc (Nuvera), which is an alternative-power technology company focused on fuel-cell stacks and related systems.
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