Hyster-Yale Materials Handling (NYSE:HY) Downgraded by StockNews.com to “Hold”

Hyster-Yale Materials Handling (NYSE:HY) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other analysts have also recently weighed in 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. Roth Mkm dropped their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Stock Performance

NYSE HY opened at $55.62 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.31 and a quick ratio of 0.63. The stock’s 50 day simple moving average is $62.64 and its 200-day simple moving average is $66.77. The company has a market cap of $973.35 million, a PE ratio of 5.56 and a beta of 1.32. Hyster-Yale Materials Handling has a 1-year low of $43.64 and a 1-year high of $84.44.

Hyster-Yale Materials Handling (NYSE:HY) last released its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 44.49% and a net margin of 4.13%. During the same period last year, the business earned $2.06 earnings per share. As a group, equities research analysts anticipate that Hyster-Yale Materials Handling will post 9.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

A number of institutional investors and hedge funds have recently modified their holdings of HY. EntryPoint Capital LLC purchased a new position in Hyster-Yale Materials Handling in the first quarter valued at approximately $27,000. Covestor Ltd grew its position in shares of Hyster-Yale Materials Handling by 21,350.0% in the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after buying an additional 427 shares during the last quarter. Quest Partners LLC raised its stake in Hyster-Yale Materials Handling by 6,692.3% during the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 870 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Hyster-Yale Materials Handling in the second quarter valued at $67,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Hyster-Yale Materials Handling by 67.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 548 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company’s stock.

About Hyster-Yale Materials Handling

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.