Hyster-Yale Materials Handling (NYSE:HY) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Hyster-Yale Materials Handling (NYSE:HY) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Several other equities analysts also recently commented on the company. Roth Mkm reaffirmed a buy rating and issued a $84.00 price objective (down previously from $87.00) on shares of Hyster-Yale Materials Handling in a research report on Thursday, August 8th. Northland Securities upgraded shares of Hyster-Yale Materials Handling from a market perform rating to an outperform rating and set a $90.00 price target on the stock in a report on Wednesday, June 5th. Finally, Northland Capmk lowered shares of Hyster-Yale Materials Handling from a strong-buy rating to a hold rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $87.00.

Hyster-Yale Materials Handling Stock Up 3.2 %

NYSE HY opened at $63.73 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.31 and a debt-to-equity ratio of 0.53. Hyster-Yale Materials Handling has a 52 week low of $38.50 and a 52 week high of $84.44. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 7.38 and a beta of 1.31. The company has a fifty day moving average of $64.29 and a two-hundred day moving average of $66.16.

Hyster-Yale Materials Handling (NYSE:HY) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $3.58 EPS for the quarter, beating the consensus estimate of $2.28 by $1.30. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.08 billion. Hyster-Yale Materials Handling had a net margin of 4.13% and a return on equity of 44.49%. During the same period in the prior year, the firm posted $2.21 EPS. On average, analysts predict that Hyster-Yale Materials Handling will post 9.69 earnings per share for the current year.

Hyster-Yale Materials Handling Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, August 30th. Hyster-Yale Materials Handling’s payout ratio is 16.22%.

Hedge Funds Weigh In On Hyster-Yale Materials Handling

Institutional investors have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in Hyster-Yale Materials Handling during the 1st quarter worth about $27,000. Quest Partners LLC raised its stake in Hyster-Yale Materials Handling by 6,692.3% in the second quarter. Quest Partners LLC now owns 883 shares of the industrial products company’s stock worth $62,000 after buying an additional 870 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Hyster-Yale Materials Handling during the second quarter worth $67,000. DekaBank Deutsche Girozentrale boosted its position in Hyster-Yale Materials Handling by 67.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,356 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 548 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Hyster-Yale Materials Handling in the 1st quarter valued at $190,000. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Hyster-Yale Materials Handling 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.