China Yuchai International (NYSE:CYD) Lowered to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded China Yuchai International (NYSE: CYD) from a "strong-buy" to a "hold," though the stock's consensus rating remains a Moderate Buy with a $60 consensus price target and UBS initiating coverage with a buy and $60 target.
• Institutional investors have been increasing exposure—UBS Group AG raised its stake by 752.8% to 849,464 shares and Millennium Management lifted holdings by 157.3%—while CYD recently traded around $42, with a 1‑year high of $56.55.

China Yuchai International (NYSE:CYD - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on CYD. UBS Group assumed coverage on China Yuchai International in a research note on Tuesday, January 6th. They set a "buy" rating and a $60.00 target price on the stock. Wall Street Zen cut China Yuchai International from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of China Yuchai International in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, China Yuchai International presently has an average rating of "Moderate Buy" and a consensus price target of $60.00.

China Yuchai International Price Performance

Shares of CYD opened at $42.21 on Monday. The business's 50-day moving average price is $44.69 and its 200 day moving average price is $40.51. China Yuchai International has a 1-year low of $13.37 and a 1-year high of $56.55.

Institutional Investors Weigh In On China Yuchai International

Several institutional investors have recently made changes to their positions in the company. UBS Group AG lifted its holdings in shares of China Yuchai International by 752.8% during the 3rd quarter. UBS Group AG now owns 849,464 shares of the company's stock valued at $35,142,000 after buying an additional 749,861 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of China Yuchai International by 157.3% during the 3rd quarter. Millennium Management LLC now owns 720,231 shares of the company's stock valued at $29,796,000 after buying an additional 440,278 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of China Yuchai International by 3.4% during the 4th quarter. Renaissance Technologies LLC now owns 278,494 shares of the company's stock valued at $9,887,000 after buying an additional 9,287 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of China Yuchai International by 73.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,141 shares of the company's stock valued at $9,728,000 after buying an additional 99,260 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in shares of China Yuchai International by 25.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 193,555 shares of the company's stock valued at $6,871,000 after buying an additional 39,130 shares during the last quarter.

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.

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