Roth Mkm Has Lowered Expectations for Hyster-Yale Materials Handling (NYSE:HY) Stock Price

by · The Markets Daily

Hyster-Yale Materials Handling (NYSE:HY – Get Free Report) had its price target dropped by equities researchers at Roth Mkm from $84.00 to $70.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Roth Mkm’s price objective suggests a potential upside of 28.89% from the stock’s previous close.

A number of other equities analysts have also recently commented on HY. Northland Capmk cut shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

View Our Latest Stock Report on HY

Hyster-Yale Materials Handling Price Performance

Hyster-Yale Materials Handling stock traded up $0.84 during midday trading on Wednesday, reaching $54.31. 92,015 shares of the stock were exchanged, compared to its average volume of 92,041. The company’s fifty day moving average is $62.86 and its 200-day moving average is $66.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 1.31. The firm has a market cap of $950.43 million, a PE ratio of 5.39 and a beta of 1.32. Hyster-Yale Materials Handling has a 52 week low of $41.75 and a 52 week high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY – Get Free Report) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $1.30. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.08 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same quarter in the prior year, the firm posted $2.21 EPS. On average, sell-side analysts forecast that Hyster-Yale Materials Handling will post 9.69 EPS for the current year.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Several institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in Hyster-Yale Materials Handling by 63.7% during the 2nd quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock valued at $15,390,000 after buying an additional 85,906 shares during the period. American Century Companies Inc. raised its holdings in Hyster-Yale Materials Handling by 149.8% in the 2nd quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock worth $10,546,000 after purchasing an additional 90,696 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Hyster-Yale Materials Handling by 298.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock worth $8,479,000 after purchasing an additional 98,996 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Hyster-Yale Materials Handling by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,550 shares of the industrial products company’s stock worth $8,057,000 after purchasing an additional 2,619 shares in the last quarter. Finally, Swedbank AB bought a new position in Hyster-Yale Materials Handling in the 1st quarter worth $5,519,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

About Hyster-Yale Materials Handling

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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.

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