Hyster-Yale Materials Handling (NYSE:HY) Rating Lowered to “Hold” at StockNews.com

Hyster-Yale Materials Handling (NYSE:HY) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other research analysts have also recently weighed in on HY. Roth Mkm decreased their price objective on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday. Northland Capmk lowered Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Stock Up 4.9 %

HY traded up $2.62 during midday trading on Wednesday, hitting $56.09. The company had a trading volume of 200,429 shares, compared to its average volume of 56,370. Hyster-Yale Materials Handling has a 52 week low of $41.75 and a 52 week high of $84.44. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $981.58 million, a price-to-earnings ratio of 5.61 and a beta of 1.32. The stock’s 50 day moving average price is $62.77 and its 200 day moving average price is $66.85.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $1.30. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $2.21 EPS. On average, research analysts anticipate that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HY. EntryPoint Capital LLC purchased a new stake in shares of Hyster-Yale Materials Handling in the first quarter worth about $27,000. Covestor Ltd increased its holdings in shares of Hyster-Yale Materials Handling by 21,350.0% in the third quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 427 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Hyster-Yale Materials Handling by 6,692.3% in the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 870 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Hyster-Yale Materials Handling during the second quarter worth $67,000. Finally, DekaBank Deutsche Girozentrale increased its stake in Hyster-Yale Materials Handling by 67.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 548 shares during the last quarter. 46.47% of the stock is owned by institutional investors.

About Hyster-Yale Materials Handling

Hyster-Yale, 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.