StockNews.com Upgrades Hyster-Yale Materials Handling (NYSE:HY) to “Buy”

Hyster-Yale Materials Handling (NYSE:HY) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other equities analysts have also recently weighed in on HY. Northland Capmk cut Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Northland Securities raised shares of Hyster-Yale Materials Handling from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research note on Wednesday, June 5th. Finally, Roth Mkm reissued a “buy” rating and issued a $84.00 price target (down from $87.00) on shares of Hyster-Yale Materials Handling in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Hyster-Yale Materials Handling Trading Up 1.7 %

NYSE:HY traded up $1.02 on Tuesday, hitting $62.20. The stock had a trading volume of 56,030 shares, compared to its average volume of 95,540. The company has a fifty day moving average price of $64.76 and a two-hundred day moving average price of $66.22. Hyster-Yale Materials Handling has a 1-year low of $38.50 and a 1-year high of $84.44. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.53. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 7.21 and a beta of 1.31.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $1.30. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Hyster-Yale Materials Handling had a return on equity of 44.49% and a net margin of 4.13%. During the same period in the prior year, the firm posted $2.21 earnings per share. Equities research analysts expect that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in Hyster-Yale Materials Handling by 29.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 287,698 shares of the industrial products company’s stock worth $18,462,000 after purchasing an additional 65,708 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Hyster-Yale Materials Handling by 63.7% during the second quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock worth $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 second quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock valued at $10,546,000 after acquiring an additional 90,696 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Hyster-Yale Materials Handling by 298.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock worth $8,479,000 after acquiring an additional 98,996 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Hyster-Yale Materials Handling by 2.3% during 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 acquiring an additional 2,619 shares in the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, 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.