Sun Hydraulics (NASDAQ:SNHY) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Sun Hydraulics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Sidoti started coverage on Sun Hydraulics in a research report on Thursday, September 14th. They set a “neutral” rating for the company. Finally, Robert W. Baird cut Sun Hydraulics from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $55.00 to $57.00 in a research report on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Sun Hydraulics currently has an average rating of “Buy” and an average price target of $60.00.

Shares of Sun Hydraulics (NASDAQ:SNHY) traded up $3.35 during trading on Friday, reaching $67.57. The company’s stock had a trading volume of 217,902 shares, compared to its average volume of 153,660. The company has a market capitalization of $1,738.66, a PE ratio of 56.78 and a beta of 1.79. The company has a quick ratio of 1.96, a current ratio of 2.62 and a debt-to-equity ratio of 0.43. Sun Hydraulics has a 52-week low of $34.17 and a 52-week high of $68.11.

Sun Hydraulics (NASDAQ:SNHY) last announced its earnings results on Monday, November 6th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. The firm had revenue of $88.00 million during the quarter, compared to analysts’ expectations of $80.66 million. Sun Hydraulics had a return on equity of 15.54% and a net margin of 10.34%. The company’s revenue was up 94.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share. analysts expect that Sun Hydraulics will post 1.65 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royce & Associates LP boosted its position in shares of Sun Hydraulics by 6.3% in the third quarter. Royce & Associates LP now owns 2,263,053 shares of the industrial products company’s stock valued at $122,205,000 after acquiring an additional 134,273 shares during the period. Vanguard Group Inc. boosted its position in shares of Sun Hydraulics by 4.1% in the second quarter. Vanguard Group Inc. now owns 1,880,090 shares of the industrial products company’s stock valued at $80,223,000 after acquiring an additional 73,703 shares during the period. Conestoga Capital Advisors LLC boosted its position in shares of Sun Hydraulics by 19.7% in the third quarter. Conestoga Capital Advisors LLC now owns 1,038,477 shares of the industrial products company’s stock valued at $56,078,000 after acquiring an additional 171,018 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Sun Hydraulics by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 869,720 shares of the industrial products company’s stock valued at $46,965,000 after acquiring an additional 2,989 shares during the period. Finally, Wasatch Advisors Inc. bought a new stake in shares of Sun Hydraulics in the third quarter valued at approximately $40,790,000. 79.46% of the stock is owned by institutional investors.

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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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