Hyster-Yale Materials Handling (NYSE:HY) Stock Rating Upgraded by StockNews.com

Hyster-Yale Materials Handling (NYSE:HY) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Separately, Roth Mkm dropped their target price on Hyster-Yale Materials Handling from $84.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Hyster-Yale Materials Handling currently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Hyster-Yale Materials Handling Stock Performance

Shares of HY stock opened at $50.65 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.36 and a quick ratio of 0.61. Hyster-Yale Materials Handling has a fifty-two week low of $48.73 and a fifty-two week high of $84.44. The stock’s 50-day moving average is $52.16 and its two-hundred day moving average is $57.14. The firm has a market cap of $886.83 million, a P/E ratio of 5.68 and a beta of 1.26.

Hyster-Yale Materials Handling announced that its Board of Directors has authorized a stock repurchase plan on Monday, November 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 5.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Hyster-Yale Materials Handling

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd boosted its stake in Hyster-Yale Materials Handling by 21,350.0% during the 3rd quarter. Covestor Ltd now owns 429 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 427 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Hyster-Yale Materials Handling in the 4th quarter worth approximately $27,000. Pinpoint Asset Management Ltd bought a new stake in shares of Hyster-Yale Materials Handling in the 3rd quarter worth approximately $32,000. Meeder Asset Management Inc. lifted its position in shares of Hyster-Yale Materials Handling by 421.8% in the 4th quarter. Meeder Asset Management Inc. now owns 741 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 599 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Hyster-Yale Materials Handling in the 4th quarter worth approximately $76,000. Institutional investors own 46.47% of the company’s stock.

About Hyster-Yale Materials Handling

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.