Hyster-Yale Materials Handling (NYSE:HY) Receives New Coverage from Analysts at Northland Securities

Equities researchers at Northland Securities began coverage on shares of Hyster-Yale Materials Handling (NYSE:HY) in a note issued to investors on Wednesday, Briefing.com reports. The brokerage set an “outperform” rating and a $80.00 price target on the industrial products company’s stock. Northland Securities’ price target points to a potential upside of 72.94% from the company’s current price.

Separately, StockNews.com raised Hyster-Yale Materials Handling from a “buy” rating to a “strong-buy” rating in a report on Monday.

Hyster-Yale Materials Handling Stock Up 3.1 %

Shares of Hyster-Yale Materials Handling stock opened at $46.26 on Wednesday. Hyster-Yale Materials Handling has a twelve month low of $24.57 and a twelve month high of $59.64. The company has a quick ratio of 0.53, a current ratio of 1.16 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $43.00 and its 200 day moving average is $47.25. The company has a market cap of $795.21 million, a price-to-earnings ratio of 7.39 and a beta of 1.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HY. Gamco Investors INC. ET AL lifted its position in shares of Hyster-Yale Materials Handling by 29.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 989,969 shares of the industrial products company’s stock valued at $32,877,000 after buying an additional 225,115 shares in the last quarter. FMR LLC lifted its holdings in Hyster-Yale Materials Handling by 60.6% during the third quarter. FMR LLC now owns 589,093 shares of the industrial products company’s stock valued at $26,262,000 after purchasing an additional 222,340 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Hyster-Yale Materials Handling by 3,385.5% in the second quarter. ProShare Advisors LLC now owns 156,393 shares of the industrial products company’s stock worth $8,733,000 after purchasing an additional 151,906 shares during the period. Valueworks LLC purchased a new stake in shares of Hyster-Yale Materials Handling in the first quarter worth $5,970,000. Finally, Acadian Asset Management LLC raised its position in shares of Hyster-Yale Materials Handling by 933.1% during the 1st quarter. Acadian Asset Management LLC now owns 72,929 shares of the industrial products company’s stock valued at $3,633,000 after purchasing an additional 65,870 shares during the period. Hedge funds and other institutional investors own 44.25% of the company’s stock.

Hyster-Yale Materials Handling Company Profile

Hyster-Yale Materials Handling, 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.