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

Hyster-Yale Materials Handling (NYSE:HY) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other equities research analysts have also commented on the company. Northland Capmk downgraded shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Roth Mkm reaffirmed a “buy” rating and issued a $84.00 price objective (down from $87.00) on shares of Hyster-Yale Materials Handling in a report on Thursday, August 8th. Finally, 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 report on Wednesday, June 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Hyster-Yale Materials Handling has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Hyster-Yale Materials Handling Stock Up 1.7 %

NYSE:HY traded up $1.02 during midday trading on Tuesday, reaching $62.20. 56,030 shares of the stock traded hands, compared to its average volume of 95,540. The stock has a market capitalization of $1.09 billion, a PE ratio of 7.21 and a beta of 1.31. Hyster-Yale Materials Handling has a 12-month low of $38.50 and a 12-month high of $84.44. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 1.31. The business has a 50-day moving average of $64.76 and a two-hundred day moving average of $66.22.

Hyster-Yale Materials Handling (NYSE:HY) last released its quarterly earnings results 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 company had revenue of $1.17 billion during 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 last year, the business posted $2.21 earnings per share. On average, equities analysts forecast that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Several hedge funds and other institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in shares of Hyster-Yale Materials Handling in the first quarter worth about $27,000. Quest Partners LLC lifted its stake in Hyster-Yale Materials Handling by 6,692.3% in the 2nd quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 870 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Hyster-Yale Materials Handling during the 2nd quarter worth approximately $67,000. DekaBank Deutsche Girozentrale grew its position in shares of Hyster-Yale Materials Handling by 67.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 548 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Hyster-Yale Materials Handling in the first quarter valued at approximately $190,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

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.