Hyster-Yale (NYSE:HY) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Shares crossed above its 200-day moving average: Hyster-Yale traded as high as $37.28 and last at $36.4250 versus a 200‑day MA of $33.75 on volume of 57,714 shares.
• Quarterly earnings missed: The company reported EPS of ($2.06) vs. ($1.20) expected, with a negative net margin and ROE, although revenue of $923.2M slightly exceeded estimates.
• Analyst sentiment is mixed-to-negative — MarketBeat shows a consensus rating of "Reduce" with a $45 target after several downgrades, though Northland recently upgraded the stock to Outperform.

Shares of Hyster-Yale, Inc. (NYSE:HY - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $33.75 and traded as high as $37.28. Hyster-Yale shares last traded at $36.4250, with a volume of 57,714 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on HY shares. Zacks Research lowered shares of Hyster-Yale from a "hold" rating to a "strong sell" rating in a report on Friday, March 6th. Northland Securities raised shares of Hyster-Yale from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a report on Monday, March 2nd. Wall Street Zen lowered shares of Hyster-Yale from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. Finally, Weiss Ratings lowered shares of Hyster-Yale from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Hyster-Yale has a consensus rating of "Reduce" and a consensus target price of $45.00.

Hyster-Yale Trading Up 0.8%

The stock has a fifty day moving average of $34.98 and a two-hundred day moving average of $33.75. The company has a market capitalization of $652.01 million, a PE ratio of -10.71 and a beta of 1.56. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 0.53.

Hyster-Yale (NYSE:HY - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The industrial products company reported ($2.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.86). Hyster-Yale had a negative return on equity of 6.12% and a negative net margin of 1.59%.The firm had revenue of $923.20 million during the quarter, compared to analysts' expectations of $916.43 million. As a group, sell-side analysts anticipate that Hyster-Yale, Inc. will post 8.85 earnings per share for the current fiscal year.

Hyster-Yale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.44 annualized dividend and a dividend yield of 4.0%. Hyster-Yale's dividend payout ratio (DPR) is currently -42.35%.

Hedge Funds Weigh In On Hyster-Yale

Several institutional investors and hedge funds have recently made changes to their positions in HY. Millennium Management LLC grew its holdings in shares of Hyster-Yale by 113.5% during the 3rd quarter. Millennium Management LLC now owns 220,850 shares of the industrial products company's stock valued at $8,141,000 after purchasing an additional 117,415 shares during the last quarter. Valueworks LLC grew its holdings 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 during the last quarter. Impala Asset Management LLC bought a new position in shares of Hyster-Yale during the 4th quarter valued at $1,486,000. Goldman Sachs Group Inc. grew its holdings in shares of Hyster-Yale by 58.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 120,803 shares of the industrial products company's stock valued at $3,589,000 after purchasing an additional 44,750 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Hyster-Yale by 43.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 144,485 shares of the industrial products company's stock worth $4,293,000 after acquiring an additional 43,822 shares during the last quarter. 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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