Hyster-Yale Materials Handling (NYSE:HY) Rating Increased to Buy at StockNews.com

Hyster-Yale Materials Handling (NYSE:HY - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report issued on Thursday.

Separately, Roth Mkm lowered their price target on shares of Hyster-Yale Materials Handling from $84.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $80.00.

Hyster-Yale Materials Handling Price Performance

HY traded down $6.55 during midday trading on Thursday, hitting $44.27. The company had a trading volume of 210,509 shares, compared to its average volume of 74,880. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.61 and a current ratio of 1.36. The company has a market capitalization of $775.08 million, a PE ratio of 4.97 and a beta of 1.26. The firm's 50-day simple moving average is $52.16 and its 200-day simple moving average is $57.05. Hyster-Yale Materials Handling has a twelve month low of $43.98 and a twelve month high of $84.44.

Remove Ads

Hyster-Yale Materials Handling announced that its Board of Directors has initiated a stock buyback program on Monday, November 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 5.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Hyster-Yale Materials Handling

Institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP acquired a new stake in shares of Hyster-Yale Materials Handling in the fourth quarter valued at approximately $3,265,000. JPMorgan Chase & Co. increased its position in shares of Hyster-Yale Materials Handling by 165.5% in the fourth quarter. JPMorgan Chase & Co. now owns 63,231 shares of the industrial products company's stock valued at $3,220,000 after acquiring an additional 39,415 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Hyster-Yale Materials Handling by 15.8% in the 4th quarter. American Century Companies Inc. now owns 274,924 shares of the industrial products company's stock valued at $14,002,000 after buying an additional 37,432 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Hyster-Yale Materials Handling by 76.3% in the 4th quarter. Renaissance Technologies LLC now owns 80,900 shares of the industrial products company's stock valued at $4,120,000 after acquiring an additional 35,000 shares during the period. Finally, Brightline Capital Management LLC acquired a new position in Hyster-Yale Materials Handling during the fourth quarter worth approximately $1,528,000. 46.47% of the stock is owned by institutional investors.

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.