Sun Hydraulics (SNHY) Downgraded to “Sell” at BidaskClub
Sun Hydraulics (NASDAQ:SNHY) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
Several other equities research analysts have also recently weighed in on SNHY. Robert W. Baird raised Sun Hydraulics from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a research report on Thursday, September 20th. SunTrust Banks increased their price objective on Sun Hydraulics to $62.00 and gave the company a “positive” rating in a research report on Thursday, October 4th. Finally, Zacks Investment Research raised Sun Hydraulics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $60.83.
Shares of SNHY stock opened at $47.52 on Tuesday. Sun Hydraulics has a 12 month low of $45.44 and a 12 month high of $70.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 29.70 and a beta of 1.68.
In other news, Director Christine L. Koski sold 1,221 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $53.57, for a total value of $65,408.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christine L. Koski sold 29,580 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $56.86, for a total value of $1,681,918.80. The disclosure for this sale can be found here. Insiders sold 104,601 shares of company stock valued at $5,620,982 over the last three months. 7.80% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Raymond James & Associates lifted its position in Sun Hydraulics by 23.1% in the second quarter. Raymond James & Associates now owns 7,983 shares of the industrial products company’s stock worth $385,000 after purchasing an additional 1,500 shares during the period. SG Americas Securities LLC bought a new position in Sun Hydraulics in the first quarter worth $100,000. MetLife Investment Advisors LLC lifted its position in Sun Hydraulics by 17.7% in the first quarter. MetLife Investment Advisors LLC now owns 12,428 shares of the industrial products company’s stock worth $666,000 after purchasing an additional 1,870 shares during the period. Stifel Financial Corp lifted its position in Sun Hydraulics by 5.9% in the first quarter. Stifel Financial Corp now owns 34,314 shares of the industrial products company’s stock worth $1,838,000 after purchasing an additional 1,921 shares during the period. Finally, Barclays PLC lifted its position in Sun Hydraulics by 51.7% in the first quarter. Barclays PLC now owns 5,704 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 1,945 shares during the period. 85.72% of the stock is owned by hedge funds and other institutional investors.
About Sun Hydraulics
Helios Technologies designs, manufactures, and sells screw-in hydraulic cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems worldwide. The company operates through two segments, Hydraulics and Electronics. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems.
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