Analysts at Sidoti began coverage on shares of Sun Hydraulics Corporation (NASDAQ:SNHY) in a research note issued on Thursday. The brokerage set a “neutral” rating on the industrial products company’s stock.
A number of other equities research analysts have also recently commented on SNHY. Zacks Investment Research raised Sun Hydraulics Corporation from a “hold” rating to a “strong-buy” rating and set a $54.00 price objective for the company in a research note on Friday, August 11th. BidaskClub raised Sun Hydraulics Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $44.50.
Shares of Sun Hydraulics Corporation (NASDAQ:SNHY) traded up 0.08% during midday trading on Thursday, hitting $51.08. The stock had a trading volume of 163,817 shares. The firm has a market capitalization of $1.38 billion, a PE ratio of 53.77 and a beta of 1.78. The firm’s 50-day moving average price is $46.75 and its 200-day moving average price is $41.38. Sun Hydraulics Corporation has a one year low of $28.75 and a one year high of $51.38.
Sun Hydraulics Corporation (NASDAQ:SNHY) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.13. Sun Hydraulics Corporation had a return on equity of 13.25% and a net margin of 9.63%. The business had revenue of $89.30 million during the quarter, compared to analysts’ expectations of $79.18 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was up 75.8% compared to the same quarter last year. On average, equities analysts predict that Sun Hydraulics Corporation will post $1.55 EPS for the current year.
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In other Sun Hydraulics Corporation news, Director Christine L. Koski sold 15,000 shares of Sun Hydraulics Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $49.87, for a total transaction of $748,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christine L. Koski sold 14,753 shares of Sun Hydraulics Corporation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $47.01, for a total value of $693,538.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,440 shares of company stock valued at $4,070,619. 10.70% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in Sun Hydraulics Corporation by 176.7% during the first quarter. Russell Investments Group Ltd. now owns 15,660 shares of the industrial products company’s stock worth $565,000 after acquiring an additional 10,001 shares in the last quarter. Citadel Advisors LLC lifted its holdings in Sun Hydraulics Corporation by 37.7% during the first quarter. Citadel Advisors LLC now owns 51,857 shares of the industrial products company’s stock worth $1,872,000 after acquiring an additional 14,210 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Sun Hydraulics Corporation by 80.0% during the first quarter. Bank of New York Mellon Corp now owns 349,008 shares of the industrial products company’s stock worth $12,602,000 after acquiring an additional 155,152 shares in the last quarter. Wellington Management Group LLP bought a new position in Sun Hydraulics Corporation during the first quarter worth about $4,092,000. Finally, Conestoga Capital Advisors LLC lifted its holdings in Sun Hydraulics Corporation by 7.9% during the second quarter. Conestoga Capital Advisors LLC now owns 867,459 shares of the industrial products company’s stock worth $37,014,000 after acquiring an additional 63,483 shares in the last quarter. Hedge funds and other institutional investors own 80.18% of the company’s stock.
Sun Hydraulics Corporation Company Profile
Sun Hydraulics Corporation (Sun) develops and manufactures solutions for the hydraulics and electronics markets. It is engaged in power controls and vehicle technologies lines of business. The Company operates through two segments including hydraulics and electronics. Hydraulics market segment is engaged in manufacturing of screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the worldwide industrial and mobile hydraulics markets operating under the brand Sun Hydraulics.
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