China Yuchai International (NYSE:CYD) Shares Gap Down – Here’s What Happened

Shares of China Yuchai International Limited (NYSE:CYD) gapped down before the market opened on Tuesday . The stock had previously closed at $55.03, but opened at $49.28. China Yuchai International shares last traded at $50.0010, with a volume of 156,922 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently commented on CYD. Zacks Research upgraded shares of China Yuchai International from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of China Yuchai International in a research report on Monday, December 22nd. UBS Group started coverage on shares of China Yuchai International in a research note on Tuesday, January 6th. They set a “buy” rating and a $60.00 target price for the company. Finally, Wall Street Zen raised China Yuchai International from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $60.00.

China Yuchai International Stock Performance

The business has a 50-day moving average of $44.28 and a two-hundred day moving average of $38.84.

Hedge Funds Weigh In On China Yuchai International

Several institutional investors and hedge funds have recently modified their holdings of CYD. Mirae Asset Global Investments Co. Ltd. acquired a new stake in China Yuchai International in the third quarter valued at approximately $28,000. Global Retirement Partners LLC purchased a new stake in China Yuchai International in the 3rd quarter worth $42,000. Public Employees Retirement Association of Colorado acquired a new position in China Yuchai International during the fourth quarter worth $50,000. Advisory Services Network LLC acquired a new position in China Yuchai International during the third quarter worth $66,000. Finally, Deutsche Bank AG purchased a new position in China Yuchai International during the fourth quarter valued at $67,000.

About China Yuchai International

China Yuchai International Ltd. (NYSE: CYD) is a Cayman Islands–incorporated holding company with principal executive offices in Singapore. Through its subsidiaries, the company is a leading manufacturer and distributor of diesel engines in the People’s Republic of China. Its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), has been producing diesel engines since 1951 and ranks among the country’s largest heavy-duty engine makers.

The company’s core product portfolio includes high-speed and medium-speed diesel engines for on-highway trucks and buses, off-road vehicles such as construction and agricultural machinery, marine propulsion systems, and power generator sets.