Sun Hydraulics Co. (NASDAQ:SNHY) – Research analysts at SunTrust Banks boosted their Q3 2019 earnings per share (EPS) estimates for shares of Sun Hydraulics in a note issued to investors on Tuesday, November 6th. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will post earnings of $0.57 per share for the quarter, up from their prior forecast of $0.55. SunTrust Banks currently has a “Accumulate” rating and a $46.00 price objective on the stock. SunTrust Banks also issued estimates for Sun Hydraulics’ Q4 2019 earnings at $0.48 EPS and FY2020 earnings at $2.55 EPS.
Several other research analysts have also recently issued reports on the company. ValuEngine cut Sun Hydraulics from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub raised Sun Hydraulics from a “sell” rating to a “hold” rating in a research report on Saturday, November 3rd. Zacks Investment Research cut Sun Hydraulics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Finally, Robert W. Baird raised Sun Hydraulics from a “neutral” rating to an “outperform” rating and set a $55.00 price objective for the company in a research report on Thursday, September 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $58.17.
NASDAQ:SNHY opened at $41.30 on Friday. The stock has a market cap of $1.22 billion, a PE ratio of 24.15 and a beta of 1.71. Sun Hydraulics has a 1 year low of $37.01 and a 1 year high of $70.83. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.68.
Sun Hydraulics (NASDAQ:SNHY) last issued its quarterly earnings results on Tuesday, November 6th. The industrial products company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.02). Sun Hydraulics had a return on equity of 10.64% and a net margin of 7.29%. The company had revenue of $135.80 million for the quarter, compared to analysts’ expectations of $141.42 million. During the same quarter last year, the company earned $0.43 EPS. Sun Hydraulics’s revenue for the quarter was up 54.3% compared to the same quarter last year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC acquired a new stake in shares of Sun Hydraulics in the 3rd quarter valued at about $219,000. Truvestments Capital LLC acquired a new stake in shares of Sun Hydraulics in the 3rd quarter valued at about $222,000. Amalgamated Bank acquired a new stake in shares of Sun Hydraulics in the 2nd quarter valued at about $211,000. Xact Kapitalforvaltning AB boosted its position in shares of Sun Hydraulics by 69.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 5,358 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 2,200 shares during the period. Finally, LPL Financial LLC acquired a new stake in shares of Sun Hydraulics in the 1st quarter valued at about $291,000. 86.21% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Christine L. Koski sold 15,300 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $52.28, for a total value of $799,884.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine L. Koski sold 22,500 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $51.21, for a total value of $1,152,225.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,601 shares of company stock valued at $5,620,982. Insiders own 7.80% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 20th. Stockholders of record on Friday, October 5th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. Sun Hydraulics’s dividend payout ratio is currently 22.50%.
Sun Hydraulics Company Profile
Helios Technologies designs, manufactures, and sells screw-in hydraulic cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems worldwide. The company operates through two segments, Hydraulics and Electronics. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems.
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