Hyster-Yale (NYSE:HY) Shares Gap Up – Time to Buy?

Hyster-Yale, Inc. (NYSE:HY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $34.40, but opened at $38.27. Hyster-Yale shares last traded at $34.21, with a volume of 235,199 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HY shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hyster-Yale in a report on Wednesday, October 8th. Roth Capital set a $40.00 price target on shares of Hyster-Yale in a research report on Thursday, November 6th. Finally, Zacks Research raised Hyster-Yale from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Hyster-Yale currently has an average rating of “Hold” and an average target price of $40.00.

Hyster-Yale Stock Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 0.68. The company’s fifty day moving average price is $33.45 and its 200 day moving average price is $37.40. The company has a market cap of $599.17 million, a PE ratio of 241.40 and a beta of 1.46.

Hyster-Yale (NYSE:HY) last issued its quarterly earnings data on Tuesday, November 4th. The industrial products company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Hyster-Yale had a return on equity of 5.93% and a net margin of 0.07%.The firm had revenue of $979.10 million during the quarter, compared to the consensus estimate of $955.69 million. On average, equities research analysts predict that Hyster-Yale, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, December 1st. Hyster-Yale’s dividend payout ratio (DPR) is presently 1,028.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HY. Gamco Investors INC. ET AL lifted its holdings in Hyster-Yale by 1.7% in the second quarter. Gamco Investors INC. ET AL now owns 860,607 shares of the industrial products company’s stock worth $34,235,000 after buying an additional 14,700 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Hyster-Yale by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 576,509 shares of the industrial products company’s stock worth $21,250,000 after acquiring an additional 3,935 shares during the period. American Century Companies Inc. raised its position in shares of Hyster-Yale by 8.1% in the 2nd quarter. American Century Companies Inc. now owns 327,204 shares of the industrial products company’s stock worth $13,016,000 after acquiring an additional 24,389 shares in the last quarter. Valueworks LLC lifted its stake in shares of Hyster-Yale by 10.4% in the 1st quarter. Valueworks LLC now owns 282,907 shares of the industrial products company’s stock valued at $11,752,000 after purchasing an additional 26,567 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Hyster-Yale by 4.0% during the second quarter. Geode Capital Management LLC now owns 273,528 shares of the industrial products company’s stock valued at $10,883,000 after purchasing an additional 10,507 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

About Hyster-Yale

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.