China Yuchai International (NYSE:CYD) Hits New 1-Year High – Time to Buy?

China Yuchai International Limited (NYSE:CYD) hit a new 52-week high during trading on Monday . The company traded as high as $44.56 and last traded at $44.47, with a volume of 42408 shares. The stock had previously closed at $41.61.

Analysts Set New Price Targets

Several brokerages recently issued reports on CYD. Wall Street Zen raised shares of China Yuchai International from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of China Yuchai International in a research note on Monday, December 22nd. Zacks Research cut China Yuchai International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, UBS Group began coverage on China Yuchai International in a research note on Tuesday, January 6th. They issued a “buy” rating and a $60.00 target price for the company. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.00.

China Yuchai International Trading Up 8.5%

The business has a fifty day moving average price of $36.37 and a 200 day moving average price of $33.35.

Hedge Funds Weigh In On China Yuchai International

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG grew its holdings in shares of China Yuchai International by 752.8% during the 3rd quarter. UBS Group AG now owns 849,464 shares of the company’s stock worth $35,142,000 after purchasing an additional 749,861 shares during the period. Millennium Management LLC lifted its position in China Yuchai International by 157.3% during the third quarter. Millennium Management LLC now owns 720,231 shares of the company’s stock valued at $29,796,000 after buying an additional 440,278 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in China Yuchai International during the second quarter worth approximately $4,759,000. Lighthouse Investment Partners LLC acquired a new stake in shares of China Yuchai International in the second quarter worth $4,307,000. Finally, Tudor Investment Corp ET AL increased its position in shares of China Yuchai International by 545.9% in the third quarter. Tudor Investment Corp ET AL now owns 154,425 shares of the company’s stock worth $6,389,000 after acquiring an additional 130,515 shares in the last quarter.

About China Yuchai International

China Yuchai International Ltd. (NYSE: CYD) is a Cayman Islands–incorporated holding company with principal executive offices in Singapore. Through its subsidiaries, the company is a leading manufacturer and distributor of diesel engines in the People’s Republic of China. Its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), has been producing diesel engines since 1951 and ranks among the country’s largest heavy-duty engine makers.

The company’s core product portfolio includes high-speed and medium-speed diesel engines for on-highway trucks and buses, off-road vehicles such as construction and agricultural machinery, marine propulsion systems, and power generator sets.