Zacks Research Upgrades Hyster-Yale (NYSE:HY) to "Hold"

Key Points

• Hyster-Yale has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, reflecting a change in analyst sentiment.
• The stock has a current consensus price target of $70.00 and has reported a net margin of 0.56% along with a recent earnings miss.
• Institutional investors have been actively increasing their holdings, with major firms like AQR Capital Management and Bridgeway Capital boosting their stakes significantly during the first quarter.

Hyster-Yale (NYSE:HY - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a "hold (c-)" rating on shares of Hyster-Yale in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Hyster-Yale currently has a consensus rating of "Hold" and a consensus price target of $70.00.

Hyster-Yale Price Performance

Shares of NYSE HY opened at $35.10 on Monday. Hyster-Yale has a twelve month low of $34.13 and a twelve month high of $69.28. The company has a quick ratio of 0.65, a current ratio of 1.40 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $621.88 million, a PE ratio of 28.30 and a beta of 1.51. The firm has a fifty day simple moving average of $37.49 and a 200 day simple moving average of $39.48.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HY. AQR Capital Management LLC boosted its holdings in shares of Hyster-Yale by 110.6% in the first quarter. AQR Capital Management LLC now owns 79,582 shares of the industrial products company's stock worth $3,306,000 after buying an additional 41,795 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in Hyster-Yale by 133.7% during the first quarter. Bridgeway Capital Management LLC now owns 68,701 shares of the industrial products company's stock valued at $2,854,000 after purchasing an additional 39,302 shares in the last quarter. Truvestments Capital LLC lifted its holdings in Hyster-Yale by 89.4% during the first quarter. Truvestments Capital LLC now owns 77,918 shares of the industrial products company's stock valued at $3,237,000 after purchasing an additional 36,786 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Hyster-Yale by 252.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 50,220 shares of the industrial products company's stock valued at $1,998,000 after purchasing an additional 35,957 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Hyster-Yale by 148.0% during the first quarter. PNC Financial Services Group Inc. now owns 59,433 shares of the industrial products company's stock valued at $2,469,000 after purchasing an additional 35,466 shares in the last quarter. 46.47% of the stock is currently owned by institutional investors.

About Hyster-Yale

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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