China Yuchai International (NYSE:CYD) Sets New 1-Year High – Still a Buy?

Shares of China Yuchai International Limited (NYSE:CYD) reached a new 52-week high on Tuesday . The company traded as high as $49.93 and last traded at $48.2850, with a volume of 62334 shares traded. The stock had previously closed at $46.05.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Zacks Research lowered shares of China Yuchai International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of China Yuchai International in a report on Monday, December 22nd. UBS Group started coverage on China Yuchai International in a research report on Tuesday, January 6th. They set a “buy” rating and a $60.00 target price for the company. Finally, Wall Street Zen upgraded China Yuchai International from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

China Yuchai International Stock Performance

The company has a 50 day simple moving average of $38.82 and a two-hundred day simple moving average of $35.66.

Institutional Investors Weigh In On China Yuchai International

Several hedge funds have recently added to or reduced their stakes in CYD. UBS Group AG increased its position in shares of China Yuchai International by 752.8% in the third quarter. UBS Group AG now owns 849,464 shares of the company’s stock valued at $35,142,000 after buying an additional 749,861 shares in the last quarter. Millennium Management LLC increased its holdings in China Yuchai International by 157.3% in the 3rd quarter. Millennium Management LLC now owns 720,231 shares of the company’s stock worth $29,796,000 after acquiring an additional 440,278 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in China Yuchai International by 73.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,141 shares of the company’s stock worth $9,728,000 after acquiring an additional 99,260 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in China Yuchai International during the second quarter valued at $4,759,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of China Yuchai International in the second quarter valued at about $4,307,000.

China Yuchai International Company Profile

China Yuchai International Ltd. (NYSE: CYD) is a Cayman Islands–incorporated holding company with principal executive offices in Singapore. Through its subsidiaries, the company is a leading manufacturer and distributor of diesel engines in the People’s Republic of China. Its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), has been producing diesel engines since 1951 and ranks among the country’s largest heavy-duty engine makers.

The company’s core product portfolio includes high-speed and medium-speed diesel engines for on-highway trucks and buses, off-road vehicles such as construction and agricultural machinery, marine propulsion systems, and power generator sets.