China Yuchai International (NYSE:CYD) Shares Gap Up - What's Next?

Key Points

• China Yuchai shares gapped up pre-market — the stock closed at $42.78, opened at $45.74 and last traded around $45.22 on volume of ~101,216 shares.
• Analyst sentiment is broadly positive with a consensus Buy rating and a $60 average price target, after UBS initiated coverage with a $60 target and other firms issued mixed upgrades and downgrades.
• The stock is trading above its 50‑day ($44.83) and 200‑day ($40.47) moving averages, and several hedge funds recently established small positions, signaling growing institutional interest.

China Yuchai International Limited (NYSE:CYD - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $42.78, but opened at $45.74. China Yuchai International shares last traded at $45.2150, with a volume of 101,216 shares traded.

Wall Street Analyst Weigh In

CYD has been the subject of a number of analyst reports. Wall Street Zen cut China Yuchai International from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of China Yuchai International in a research note on Monday, December 22nd. UBS Group started coverage on China Yuchai International in a research note on Tuesday, January 6th. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Zacks Research raised China Yuchai International from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $60.00.

China Yuchai International Price Performance

The business has a 50 day moving average price of $44.83 and a two-hundred day moving average price of $40.47.

Hedge Funds Weigh In On China Yuchai International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in China Yuchai International during the third quarter valued at approximately $28,000. Global Retirement Partners LLC bought a new position in China Yuchai International during the third quarter valued at approximately $42,000. Quantbot Technologies LP bought a new position in China Yuchai International during the second quarter valued at approximately $48,000. Public Employees Retirement Association of Colorado bought a new position in China Yuchai International during the fourth quarter valued at approximately $50,000. Finally, Advisory Services Network LLC bought a new position in China Yuchai International during the third quarter valued at approximately $66,000.

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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