Roth Mkm Cuts Hyster-Yale Materials Handling (NYSE:HY) Price Target to $70.00

Hyster-Yale Materials Handling (NYSE:HY) had its price target reduced by Roth Mkm from $84.00 to $70.00 in a research report sent to investors on Wednesday,Benzinga reports. Roth Mkm currently has a buy rating on the industrial products company’s stock.

HY has been the topic of a number of other research reports. StockNews.com upgraded Hyster-Yale Materials Handling from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Northland Capmk lowered shares of Hyster-Yale Materials Handling from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.00.

Hyster-Yale Materials Handling Price Performance

Shares of Hyster-Yale Materials Handling stock traded down $2.24 during trading on Wednesday, reaching $53.38. 92,366 shares of the stock traded hands, compared to its average volume of 75,573. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.63. The company has a market capitalization of $934.15 million, a price-to-earnings ratio of 6.00 and a beta of 1.32. Hyster-Yale Materials Handling has a 52-week low of $43.98 and a 52-week high of $84.44. The business has a fifty day simple moving average of $62.45 and a two-hundred day simple moving average of $66.72.

Hyster-Yale Materials Handling (NYSE:HY) last posted its earnings results on Tuesday, November 5th. The industrial products company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.00). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.06 billion. Hyster-Yale Materials Handling had a return on equity of 34.77% and a net margin of 3.68%. During the same quarter last year, the firm earned $2.06 earnings per share. Sell-side analysts expect that Hyster-Yale Materials Handling will post 9.69 EPS for the current year.

Hyster-Yale Materials Handling Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Friday, August 30th. Hyster-Yale Materials Handling’s dividend payout ratio is presently 15.71%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its stake in shares of Hyster-Yale Materials Handling by 298.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 132,136 shares of the industrial products company’s stock worth $8,479,000 after buying an additional 98,996 shares during the last quarter. American Century Companies Inc. boosted its holdings in Hyster-Yale Materials Handling by 149.8% during the second quarter. American Century Companies Inc. now owns 151,241 shares of the industrial products company’s stock worth $10,546,000 after buying an additional 90,696 shares in the last quarter. Swedbank AB acquired a new stake in Hyster-Yale Materials Handling during the first quarter valued at $5,519,000. Acadian Asset Management LLC increased its holdings in Hyster-Yale Materials Handling by 63.7% in the second quarter. Acadian Asset Management LLC now owns 220,865 shares of the industrial products company’s stock valued at $15,390,000 after buying an additional 85,906 shares in the last quarter. Finally, Foundry Partners LLC purchased a new position in Hyster-Yale Materials Handling during the second quarter worth approximately $5,046,000. 46.47% of the stock is owned by institutional investors and hedge funds.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale, 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.