Hyster-Yale (NYSE:HY) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Hyster-Yale from “Hold” to “Sell.” Despite mixed analyst views, MarketBeat reports a consensus “Hold” rating and an average price target of $45.
• Hyster-Yale reported a quarterly loss of $1.64 per share, beating the expected $2.02 loss, but revenue of $795.2 million fell short of the $878.1 million consensus estimate. Analysts expect a full-year loss of approximately $2.75 per share.
• The stock opened at $33.49, with a market capitalization of about $600 million and a negative price-to-earnings ratio. Institutional investors own 46.47% of the company’s shares.

Hyster-Yale (NYSE:HY - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Several other brokerages also recently commented on HY. Zacks Research raised shares of Hyster-Yale from a "strong sell" rating to a "hold" rating in a research note on Monday, May 4th. Weiss Ratings downgraded Hyster-Yale from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $45.00.

Hyster-Yale Trading Down 0.0%

Shares of Hyster-Yale stock opened at $33.49 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. Hyster-Yale has a 12-month low of $26.41 and a 12-month high of $42.33. The company has a market capitalization of $600.07 million, a price-to-earnings ratio of -5.99 and a beta of 1.61. The firm's 50-day moving average price is $34.60 and its two-hundred day moving average price is $35.04.

Hyster-Yale (NYSE:HY - Get Free Report) last issued its earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) EPS for the quarter, beating the consensus estimate of ($2.02) by $0.38. Hyster-Yale had a negative net margin of 2.71% and a negative return on equity of 13.96%. The company had revenue of $795.20 million during the quarter, compared to analysts' expectations of $878.10 million. On average, analysts forecast that Hyster-Yale will post -2.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyster-Yale

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Hyster-Yale by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 587,683 shares of the industrial products company's stock worth $19,105,000 after purchasing an additional 28,642 shares in the last quarter. Valueworks LLC grew its position in shares of Hyster-Yale by 33.2% during the 4th quarter. Valueworks LLC now owns 399,344 shares of the industrial products company's stock valued at $11,865,000 after purchasing an additional 99,538 shares in the last quarter. State Street Corp grew its position in shares of Hyster-Yale by 12.1% during the 4th quarter. State Street Corp now owns 307,794 shares of the industrial products company's stock valued at $9,145,000 after purchasing an additional 33,281 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Hyster-Yale in the first quarter worth $8,696,000. Finally, Millennium Management LLC increased its holdings in shares of Hyster-Yale by 1.5% in the fourth quarter. Millennium Management LLC now owns 224,251 shares of the industrial products company's stock worth $6,662,000 after purchasing an additional 3,401 shares during the period. Institutional investors own 46.47% of the company's stock.

About Hyster-Yale

Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing.

The company's product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors.

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