Roth Mkm Reiterates “Buy” Rating for Hyster-Yale Materials Handling (NYSE:HY)

Roth Mkm reiterated their buy rating on shares of Hyster-Yale Materials Handling (NYSE:HY) in a research report sent to investors on Thursday, Benzinga reports. Roth Mkm currently has a $84.00 price objective on the industrial products company’s stock, down from their previous price objective of $87.00.

Several other analysts have also issued reports on HY. Northland Capmk lowered Hyster-Yale Materials Handling from a strong-buy rating to a hold rating in a report on Wednesday. Northland Securities upgraded Hyster-Yale Materials Handling from a market perform rating to an outperform rating and set a $90.00 price objective on the stock in a research note on Wednesday, June 5th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $87.00.

Hyster-Yale Materials Handling Stock Down 0.7 %

Shares of HY traded down $0.40 during mid-day trading on Thursday, hitting $60.10. 95,534 shares of the company’s stock were exchanged, compared to its average volume of 100,797. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.25 and a quick ratio of 0.56. Hyster-Yale Materials Handling has a 52 week low of $38.50 and a 52 week high of $84.44. The company has a market cap of $1.05 billion, a PE ratio of 6.96 and a beta of 1.35. The company has a 50-day simple moving average of $71.46 and a 200 day simple moving average of $67.54.

Hyster-Yale Materials Handling (NYSE:HY) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $3.58 EPS for the quarter, topping the consensus estimate of $2.28 by $1.30. Hyster-Yale Materials Handling had a net margin of 3.61% and a return on equity of 42.94%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. On average, research analysts forecast that Hyster-Yale Materials Handling will post 8.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Several hedge funds have recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in shares of Hyster-Yale Materials Handling in the first quarter valued at approximately $27,000. Gladius Capital Management LP bought a new stake in Hyster-Yale Materials Handling in the 4th quarter valued at $40,000. New York State Teachers Retirement System bought a new stake in Hyster-Yale Materials Handling in the 4th quarter valued at $61,000. Quest Partners LLC boosted its position in Hyster-Yale Materials Handling by 6,692.3% during the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 870 shares during the period. Finally, AJOVista LLC bought a new position in Hyster-Yale Materials Handling during the fourth quarter worth $71,000. 46.47% of the stock is currently owned by institutional investors and hedge funds.

About Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, 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.