Hyster-Yale Materials Handling (NYSE:HY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Hyster-Yale Materials Handling, Inc. designs, engineers, manufactures, sells and services a comprehensive line of lift trucks, warehouse trucks, counterbalanced trucks, cargo, container handling trucks and aftermarket parts. The Company’s products are marketed globally under the Hyster(R) and Yale(R) brand names. It conducts its operations primarily in America, Europe and Asia-Pacific. Hyster-Yale Materials Handling, Inc. is based in Portland, Oregon. “
Other equities analysts have also recently issued reports about the company. Sidoti reiterated a “neutral” rating on shares of Hyster-Yale Materials Handling in a report on Friday, October 13th. ValuEngine upgraded Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Seaport Global Securities cut Hyster-Yale Materials Handling from a “neutral” rating to a “sell” rating and set a $56.00 price objective for the company. in a report on Monday, November 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Hyster-Yale Materials Handling presently has an average rating of “Hold” and a consensus target price of $74.00.
Hyster-Yale Materials Handling (HY) traded up $1.96 on Tuesday, hitting $86.45. The stock had a trading volume of 40,149 shares, compared to its average volume of 31,269. Hyster-Yale Materials Handling has a 1 year low of $53.50 and a 1 year high of $93.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.64 and a quick ratio of 1.02. The stock has a market cap of $1,400.00, a PE ratio of 22.57 and a beta of 1.09.
In related news, insider Frank F. Taplin sold 1,178 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $84.40, for a total transaction of $99,423.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 26.34% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in Hyster-Yale Materials Handling by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 3,361 shares of the industrial products company’s stock valued at $237,000 after acquiring an additional 156 shares during the period. Rhumbline Advisers boosted its holdings in Hyster-Yale Materials Handling by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 12,520 shares of the industrial products company’s stock valued at $880,000 after acquiring an additional 190 shares during the period. Victory Capital Management Inc. boosted its holdings in Hyster-Yale Materials Handling by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,119 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 319 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Hyster-Yale Materials Handling by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,131 shares of the industrial products company’s stock valued at $572,000 after acquiring an additional 648 shares during the period. Finally, West Coast Financial LLC boosted its holdings in Hyster-Yale Materials Handling by 1.1% during the 3rd quarter. West Coast Financial LLC now owns 67,852 shares of the industrial products company’s stock valued at $5,187,000 after acquiring an additional 763 shares during the period. Institutional investors own 50.88% of the company’s stock.
WARNING: This report was first published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://www.truebluetribune.com/2018/01/11/hyster-yale-materials-handling-hy-rating-increased-to-hold-at-zacks-investment-research.html.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc is a lift truck manufacturer. The Company designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships.
Receive News & Ratings for Hyster-Yale Materials Handling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hyster-Yale Materials Handling and related companies with MarketBeat.com's FREE daily email newsletter.