Brokerages Set Sun Hydraulics Co. (SNHY) Target Price at $63.50
Sun Hydraulics Co. (NASDAQ:SNHY) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $63.50.
SNHY has been the subject of a number of research reports. BidaskClub cut shares of Sun Hydraulics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. SunTrust Banks assumed coverage on shares of Sun Hydraulics in a report on Monday, February 5th. They issued a “buy” rating for the company. Sidoti upgraded shares of Sun Hydraulics from a “neutral” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Tuesday, February 13th. Zacks Investment Research lowered shares of Sun Hydraulics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, William Blair assumed coverage on shares of Sun Hydraulics in a report on Friday, February 23rd. They issued an “outperform” rating for the company.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. bought a new position in Sun Hydraulics during the 2nd quarter worth approximately $252,000. California Public Employees Retirement System raised its holdings in Sun Hydraulics by 3.7% during the 2nd quarter. California Public Employees Retirement System now owns 44,700 shares of the industrial products company’s stock worth $1,907,000 after purchasing an additional 1,600 shares during the last quarter. Voya Investment Management LLC raised its holdings in Sun Hydraulics by 10.7% during the 2nd quarter. Voya Investment Management LLC now owns 11,218 shares of the industrial products company’s stock worth $479,000 after purchasing an additional 1,086 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Sun Hydraulics by 2.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 23,610 shares of the industrial products company’s stock worth $1,008,000 after purchasing an additional 571 shares during the last quarter. Finally, State Street Corp raised its holdings in Sun Hydraulics by 7.5% during the 2nd quarter. State Street Corp now owns 447,893 shares of the industrial products company’s stock worth $19,111,000 after purchasing an additional 31,402 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.
Sun Hydraulics (NASDAQ:SNHY) last posted its earnings results on Monday, February 26th. The industrial products company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $84.15 million during the quarter, compared to analysts’ expectations of $83.79 million. Sun Hydraulics had a net margin of 9.20% and a return on equity of 16.58%. The business’s revenue for the quarter was up 68.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. sell-side analysts forecast that Sun Hydraulics will post 1.88 EPS for the current fiscal year.
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About Sun Hydraulics
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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