Hyster-Yale (NYSE:HY) Upgraded to Hold at Zacks Research

Hyster-Yale (NYSE:HY) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also weighed in on HY. Wall Street Zen lowered Hyster-Yale from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Weiss Ratings lowered Hyster-Yale from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Finally, Northland Securities upgraded Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $45.00.

Hyster-Yale Trading Up 4.0%

NYSE:HY opened at $40.10 on Monday. Hyster-Yale has a 1 year low of $26.41 and a 1 year high of $44.55. The stock has a market cap of $717.81 million, a price-to-earnings ratio of -11.79 and a beta of 1.66. The business has a fifty day moving average of $35.26 and a 200-day moving average of $33.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.71 and a current ratio of 1.34.

Hyster-Yale (NYSE:HY) last released its quarterly earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.02) by $0.38. Hyster-Yale had a negative return on equity of 6.12% and a negative net margin of 1.59%.The company had revenue of $795.20 million during the quarter, compared to analysts’ expectations of $878.10 million. Equities analysts predict that Hyster-Yale will post -2.94 earnings per share for the current year.

Institutional Investors Weigh In On Hyster-Yale

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Hyster-Yale by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 576,509 shares of the industrial products company’s stock valued at $21,250,000 after purchasing an additional 3,935 shares during the last quarter. Valueworks LLC lifted its holdings in shares of Hyster-Yale by 33.2% during the fourth quarter. Valueworks LLC now owns 399,344 shares of the industrial products company’s stock valued at $11,865,000 after purchasing an additional 99,538 shares during the last quarter. State Street Corp lifted its holdings in shares of Hyster-Yale by 12.1% during the fourth quarter. State Street Corp now owns 307,794 shares of the industrial products company’s stock valued at $9,145,000 after purchasing an additional 33,281 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Hyster-Yale during the first quarter valued at $8,696,000. Finally, Millennium Management LLC lifted its holdings in shares of Hyster-Yale by 1.5% during the fourth quarter. Millennium Management LLC now owns 224,251 shares of the industrial products company’s stock valued at $6,662,000 after purchasing an additional 3,401 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company’s product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.