Hyster-Yale (NYSE:HY) Share Price Passes Below 200 Day Moving Average - Here's What Happened

Key Points

• Hyster-Yale's share price has fallen below its 200-day moving average of $39.51, trading at $36.14 with a recent drop of 1.6%.
• Recent analyst ratings show mixed responses, with a consensus average rating of "Hold" and a target price of $70.00, alongside an upgrade to a "strong sell" by Zacks Research.
• The company reported a quarterly earnings loss of ($0.14) per share, missing estimates, despite revenue surpassing expectations at $956.60 million.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.51 and traded as low as $35.91. Hyster-Yale shares last traded at $36.14, with a volume of 61,990 shares changing hands.

Analysts Set New Price Targets

HY has been the topic of a number of recent research reports. Zacks Research upgraded Hyster-Yale to a "strong sell" rating in a report on Friday, August 8th. Weiss Ratings restated a "hold (c-)" rating on shares of Hyster-Yale in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $70.00.

Hyster-Yale Trading Down 1.6%

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.65 and a current ratio of 1.40. The firm has a 50 day simple moving average of $37.63 and a two-hundred day simple moving average of $39.51. The firm has a market capitalization of $640.40 million, a P/E ratio of 29.15 and a beta of 1.51.

Hyster-Yale (NYSE:HY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The industrial products company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.40). The firm had revenue of $956.60 million during the quarter, compared to the consensus estimate of $936.90 million. Hyster-Yale had a return on equity of 9.57% and a net margin of 0.56%. Equities research analysts forecast that Hyster-Yale, Inc. will post 8.85 earnings per share for the current year.

Hyster-Yale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Friday, August 29th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, August 29th. Hyster-Yale's dividend payout ratio is 116.13%.

Hedge Funds Weigh In On Hyster-Yale

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE grew its position in Hyster-Yale by 15.2% during the first quarter. US Bancorp DE now owns 1,989 shares of the industrial products company's stock valued at $83,000 after buying an additional 263 shares during the period. Quantbot Technologies LP boosted its stake in Hyster-Yale by 25.8% in the first quarter. Quantbot Technologies LP now owns 4,073 shares of the industrial products company's stock valued at $169,000 after acquiring an additional 835 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Hyster-Yale by 1,641.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,319 shares of the industrial products company's stock valued at $172,000 after acquiring an additional 4,071 shares during the period. Amundi increased its stake in shares of Hyster-Yale by 10.1% during the 1st quarter. Amundi now owns 4,844 shares of the industrial products company's stock worth $201,000 after purchasing an additional 444 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Hyster-Yale by 4.5% during the 1st quarter. Inspire Investing LLC now owns 8,232 shares of the industrial products company's stock worth $342,000 after purchasing an additional 358 shares during the last quarter. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale 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.

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