Hyster-Yale (NYSE:HY) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Hyster-Yale shares moved above their 200-day moving average, trading as high as $36.39 versus the $34.97 average, before last changing hands at $35.595.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $47.50; ratings range from Roth Capital’s “Buy” to “Sell” recommendations from Wall Street Zen and Weiss Ratings.
• The company reported a quarterly loss of $1.64 per share but exceeded revenue and earnings expectations, while declaring a $0.365 quarterly dividend—an annualized yield of approximately 4.1%.

Hyster-Yale, Inc. (NYSE:HY - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $34.97 and traded as high as $36.39. Hyster-Yale shares last traded at $35.5950, with a volume of 97,534 shares traded.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Roth Capital restated a "buy" rating and issued a $45.00 price target on shares of Hyster-Yale in a report on Thursday, August 6th. Wall Street Zen cut shares of Hyster-Yale from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Hyster-Yale in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $47.50.

Hyster-Yale Trading Down 0.4%

The company has a quick ratio of 0.65, a current ratio of 1.28 and a debt-to-equity ratio of 0.66. The stock's 50 day moving average is $33.87 and its two-hundred day moving average is $34.97. The company has a market capitalization of $638.22 million, a PE ratio of -5.43 and a beta of 1.65.

Hyster-Yale (NYSE:HY - Get Free Report) last posted its earnings results on Tuesday, August 4th. The industrial products company reported ($1.64) EPS for the quarter, beating analysts' consensus estimates of ($2.20) by $0.56. Hyster-Yale had a negative net margin of 3.33% and a negative return on equity of 21.03%. The business had revenue of $812.90 million for the quarter, compared to the consensus estimate of $804.62 million. As a group, sell-side analysts predict that Hyster-Yale, Inc. will post -2.91 EPS for the current fiscal year.

Hyster-Yale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.365 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.46 dividend on an annualized basis and a yield of 4.1%. Hyster-Yale's payout ratio is -22.26%.

Institutional Trading of Hyster-Yale

Several hedge funds and other institutional investors have recently bought and sold shares of HY. Amundi raised its position in shares of Hyster-Yale by 10.1% in the 1st quarter. Amundi now owns 4,844 shares of the industrial products company's stock worth $201,000 after acquiring an additional 444 shares in the last quarter. AQR Capital Management LLC boosted its position in Hyster-Yale by 110.6% during the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company's stock valued at $3,306,000 after purchasing an additional 41,795 shares in the last quarter. Millennium Management LLC boosted its position in Hyster-Yale by 20.5% during the first quarter. Millennium Management LLC now owns 119,560 shares of the industrial products company's stock valued at $4,967,000 after purchasing an additional 20,305 shares in the last quarter. Empowered Funds LLC grew its stake in Hyster-Yale by 99.6% in the first quarter. Empowered Funds LLC now owns 48,701 shares of the industrial products company's stock valued at $2,023,000 after purchasing an additional 24,302 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in Hyster-Yale by 19.8% in the first quarter. Jane Street Group LLC now owns 35,034 shares of the industrial products company's stock valued at $1,455,000 after purchasing an additional 5,802 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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