Hyster-Yale (NYSE:HY) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Hyster-Yale (NYSE:HY) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other research analysts have also recently commented on HY. Zacks Research raised Hyster-Yale from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings cut shares of Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.00.

Hyster-Yale Stock Performance

Shares of HY stock opened at $34.90 on Friday. The business’s 50 day simple moving average is $34.62 and its 200 day simple moving average is $35.05. Hyster-Yale has a one year low of $26.41 and a one year high of $42.33. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.67. The stock has a market capitalization of $625.46 million, a PE ratio of -6.24 and a beta of 1.62.

Hyster-Yale (NYSE:HY) last released its quarterly earnings data on Tuesday, May 5th. The industrial products company reported ($1.64) EPS for the quarter, beating the consensus estimate of ($2.02) by $0.38. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%.The firm had revenue of $795.20 million during the quarter, compared to the consensus estimate of $878.10 million. As a group, research analysts forecast that Hyster-Yale will post -2.75 earnings per share for the current year.

Hyster-Yale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were issued a $0.365 dividend. This represents a $1.46 annualized dividend and a yield of 4.2%. This is a positive change from Hyster-Yale’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Monday, June 1st. Hyster-Yale’s dividend payout ratio is presently -26.12%.

Institutional Trading of Hyster-Yale

Institutional investors have recently added to or reduced their stakes in the business. Optiver Holding B.V. bought a new stake in shares of Hyster-Yale during the 1st quarter valued at about $33,000. Kestra Advisory Services LLC purchased a new position in Hyster-Yale in the 4th quarter worth approximately $61,000. Aquatic Capital Management LLC boosted its position in shares of Hyster-Yale by 71.9% during the third quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 1,410 shares during the last quarter. Amundi grew its position in shares of Hyster-Yale by 10.1% during the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 444 shares in the last quarter. Finally, State of Wyoming bought a new stake in Hyster-Yale in the 1st quarter worth approximately $204,000. 46.47% of the stock is currently 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.