Hyster-Yale (NYSE:HY) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Hyster-Yale, Inc. (NYSE:HY) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $34.97 and traded as high as $36.39. Hyster-Yale shares last traded at $35.5950, with a volume of 97,534 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HY shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Hyster-Yale in a research note on Monday, August 3rd. Wall Street Zen downgraded shares of Hyster-Yale from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Roth Capital reaffirmed a “buy” rating and set a $45.00 price target on shares of Hyster-Yale in a report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hyster-Yale presently has an average rating of “Hold” and a consensus target price of $47.50.

Hyster-Yale Trading Down 2.4%

The company has a current ratio of 1.28, a quick ratio of 0.65 and a debt-to-equity ratio of 0.66. The business has a 50 day simple moving average of $33.94 and a two-hundred day simple moving average of $34.90. The stock has a market cap of $610.44 million, a price-to-earnings ratio of -5.19 and a beta of 1.65.

Hyster-Yale (NYSE:HY) last announced its earnings results on Tuesday, August 4th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.20) by $0.56. Hyster-Yale had a negative return on equity of 21.03% and a negative net margin of 3.33%.The company had revenue of $812.90 million for the quarter, compared to analyst estimates of $804.62 million. As a group, equities analysts anticipate that Hyster-Yale, Inc. will post -2.91 EPS for the current year.

Hyster-Yale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 1st. Hyster-Yale’s dividend payout ratio is -22.26%.

Hedge Funds Weigh In On Hyster-Yale

A number of hedge funds have recently bought and sold shares of HY. Optiver Holding B.V. bought a new stake in Hyster-Yale in the first quarter valued at about $33,000. Kestra Advisory Services LLC bought a new position in Hyster-Yale during the 4th quarter worth approximately $61,000. Aquatic Capital Management LLC grew its position in shares of Hyster-Yale by 71.9% in the 3rd quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 1,410 shares in the last quarter. Amundi boosted its holdings in Hyster-Yale by 10.1% in the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 444 shares during the period. Finally, State of Wyoming acquired a new stake in Hyster-Yale during the first quarter worth about $204,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

Hyster-Yale Company Profile

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.