Hyster-Yale (NYSE:HY) Shares Gap Up – Here’s Why

Shares of Hyster-Yale, Inc. (NYSE:HY) gapped up prior to trading on Friday . The stock had previously closed at $33.90, but opened at $36.00. Hyster-Yale shares last traded at $37.00, with a volume of 3,934 shares.

Analysts Set New Price Targets

Several brokerages recently weighed in on HY. Wall Street Zen raised Hyster-Yale from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Northland Securities raised Hyster-Yale from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Monday, March 2nd. Zacks Research raised Hyster-Yale from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Weiss Ratings cut Hyster-Yale from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Hyster-Yale presently has a consensus rating of “Hold” and an average target price of $45.00.

Hyster-Yale Stock Performance

The stock has a market capitalization of $685.80 million, a PE ratio of -6.77 and a beta of 1.61. The business has a 50 day moving average price of $35.96 and a 200 day moving average price of $34.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.67.

Hyster-Yale (NYSE:HY) last released its earnings results on Tuesday, May 5th. The industrial products company reported ($1.64) EPS for the quarter, topping analysts’ consensus estimates of ($2.02) by $0.38. Hyster-Yale had a negative return on equity of 13.96% and a negative net margin of 2.71%.The firm had revenue of $795.20 million for the quarter, compared to analysts’ expectations of $878.10 million. As a group, equities research analysts expect that Hyster-Yale, Inc. will post -2.75 earnings per share for the current year.

Hyster-Yale Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Monday, June 1st will be paid a $0.365 dividend. This is an increase from Hyster-Yale’s previous quarterly dividend of $0.36. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, June 1st. Hyster-Yale’s payout ratio is currently -26.12%.

Institutional Investors Weigh In On Hyster-Yale

Institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. purchased a new stake in shares of Hyster-Yale in the first quarter worth $33,000. Kestra Advisory Services LLC purchased a new stake in shares of Hyster-Yale in the fourth quarter worth $61,000. Aquatic Capital Management LLC grew its stake in shares of Hyster-Yale by 71.9% in the third quarter. Aquatic Capital Management LLC now owns 3,372 shares of the industrial products company’s stock worth $124,000 after acquiring an additional 1,410 shares during the last quarter. Amundi lifted its holdings in shares of Hyster-Yale by 10.1% during the first quarter. Amundi now owns 4,844 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 444 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Hyster-Yale during the first quarter valued at $204,000. 46.47% of the stock is owned by hedge funds and other institutional investors.

Hyster-Yale Company Profile

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.