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

Key Points

• China Yuchai International shares surged at the open, rising from a prior close of $45.07 to $48.18 before trading near $47.86, up 2.4%.
• Analyst sentiment is mixed but leans positive: the stock carries a “Moderate Buy” consensus rating with a $60 average price target, despite recent upgrades and downgrades.
• The company increased its annual dividend to $0.87 per share from $0.53, while several institutional investors recently initiated positions in the stock.

China Yuchai International Limited (NYSE:CYD - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $45.07, but opened at $48.18. China Yuchai International shares last traded at $47.86, with a volume of 23,139 shares trading hands.

Wall Street Analyst Weigh In

CYD has been the topic of a number of research analyst reports. Zacks Research downgraded China Yuchai International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 16th. Wall Street Zen raised China Yuchai International from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Weiss Ratings downgraded China Yuchai International from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 29th. Finally, Citigroup upgraded China Yuchai International to a "buy" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.00.

China Yuchai International Trading Up 2.4%

The business's fifty day moving average is $49.98 and its 200-day moving average is $46.35.

China Yuchai International Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Friday, July 17th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a dividend yield of 198.0%. This is an increase from China Yuchai International's previous annual dividend of $0.53.

Institutional Investors Weigh In On China Yuchai International

Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in China Yuchai International in the second quarter valued at approximately $48,000. Public Employees Retirement Association of Colorado purchased a new stake in China Yuchai International in the fourth quarter worth $50,000. Advisory Services Network LLC purchased a new stake in China Yuchai International in the third quarter worth $66,000. Deutsche Bank AG bought a new stake in shares of China Yuchai International in the fourth quarter valued at $67,000. Finally, Blue Trust Inc. bought a new stake in shares of China Yuchai International in the first quarter valued at $69,000.

China Yuchai International Company Profile

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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