Sun Hydraulics Corporation (SNHY) Coverage Initiated at Sidoti

Sidoti started coverage on shares of Sun Hydraulics Corporation (NASDAQ:SNHY) in a research note issued on Thursday. The firm set a “neutral” rating on the industrial products company’s stock.

A number of other brokerages also recently issued reports on SNHY. Zacks Investment Research upgraded shares of Sun Hydraulics Corporation from a “hold” rating to a “strong-buy” rating and set a $54.00 price target on the stock in a research report on Friday, August 11th. BidaskClub downgraded shares of Sun Hydraulics Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $44.50.

Sun Hydraulics Corporation (NASDAQ:SNHY) traded up 0.10% during midday trading on Thursday, reaching $51.04. 115,586 shares of the company’s stock traded hands. Sun Hydraulics Corporation has a 1-year low of $28.46 and a 1-year high of $51.38. The stock’s 50 day moving average price is $45.99 and its 200 day moving average price is $41.15. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 53.73 and a beta of 1.78.

Sun Hydraulics Corporation (NASDAQ:SNHY) last issued its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.13. The firm had revenue of $89.30 million for the quarter, compared to the consensus estimate of $79.18 million. Sun Hydraulics Corporation had a net margin of 9.63% and a return on equity of 13.25%. The company’s revenue for the quarter was up 75.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 EPS. Equities research analysts anticipate that Sun Hydraulics Corporation will post $1.56 EPS for the current year.

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In related news, Director Christine L. Koski sold 19,140 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $47.26, for a total transaction of $904,556.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christine L. Koski sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $49.87, for a total transaction of $748,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 85,440 shares of company stock worth $4,070,619 in the last quarter. 10.70% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. BB&T Securities LLC lifted its position in shares of Sun Hydraulics Corporation by 0.6% during the 1st quarter. BB&T Securities LLC now owns 7,613 shares of the industrial products company’s stock valued at $274,000 after acquiring an additional 45 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Sun Hydraulics Corporation by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,347 shares of the industrial products company’s stock valued at $784,000 after acquiring an additional 54 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Sun Hydraulics Corporation by 0.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 15,731 shares of the industrial products company’s stock valued at $671,000 after acquiring an additional 71 shares during the period. Rhumbline Advisers lifted its position in shares of Sun Hydraulics Corporation by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 29,593 shares of the industrial products company’s stock valued at $1,263,000 after acquiring an additional 93 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Sun Hydraulics Corporation by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 5,764 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 160 shares during the period. Institutional investors own 80.18% of the company’s stock.

Sun Hydraulics Corporation Company Profile

Sun Hydraulics Corporation (Sun) develops and manufactures solutions for the hydraulics and electronics markets. It is engaged in power controls and vehicle technologies lines of business. The Company operates through two segments including hydraulics and electronics. Hydraulics market segment is engaged in manufacturing of screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the worldwide industrial and mobile hydraulics markets operating under the brand Sun Hydraulics.

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