Sun Hydraulics (SNHY) Upgraded to “Buy” at BidaskClub
BidaskClub upgraded shares of Sun Hydraulics (NASDAQ:SNHY) from a hold rating to a buy rating in a research note released on Wednesday.
A number of other research firms have also recently issued reports on SNHY. Sidoti initiated coverage on Sun Hydraulics in a research note on Thursday, September 14th. They set a neutral rating for the company. Zacks Investment Research cut Sun Hydraulics from a strong-buy rating to a hold rating in a research note on Wednesday, October 11th. Finally, Robert W. Baird cut Sun Hydraulics from an outperform rating to a neutral rating and increased their target price for the stock from $55.00 to $57.00 in a research note on Friday, October 13th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $60.00.
Shares of Sun Hydraulics (NASDAQ SNHY) opened at $64.24 on Wednesday. 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 company has a market capitalization of $1,730.00, a PE ratio of 54.44 and a beta of 1.79. Sun Hydraulics has a 52 week low of $34.17 and a 52 week high of $64.50.
Sun Hydraulics (NASDAQ:SNHY) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Sun Hydraulics had a return on equity of 15.54% and a net margin of 10.34%. The company had revenue of $88.00 million during the quarter, compared to analysts’ expectations of $80.66 million. During the same period in the prior year, the business posted $0.19 EPS. Sun Hydraulics’s revenue was up 94.7% on a year-over-year basis. sell-side analysts predict that Sun Hydraulics will post 1.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, January 20th. Shareholders of record on Friday, January 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 0.56%. The ex-dividend date is Thursday, January 4th. Sun Hydraulics’s dividend payout ratio (DPR) is currently 30.51%.
Large investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. boosted its position in Sun Hydraulics by 191.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,337 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 1,536 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Sun Hydraulics by 542.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,486 shares of the industrial products company’s stock valued at $149,000 after buying an additional 2,943 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Sun Hydraulics in the 3rd quarter valued at approximately $201,000. Hartland & Co. LLC acquired a new stake in shares of Sun Hydraulics in the 3rd quarter valued at approximately $203,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Sun Hydraulics by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,060 shares of the industrial products company’s stock valued at $173,000 after buying an additional 608 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.
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Sun Hydraulics Company Profile
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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