Sun Hydraulics (SNHY) Sets New 12-Month Low After Earnings Miss

Sun Hydraulics Co. (NASDAQ:SNHY)’s share price reached a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $41.01 and last traded at $40.43, with a volume of 6079 shares trading hands. The stock had previously closed at $50.03.

The industrial products company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.03). Sun Hydraulics had a net margin of 8.08% and a return on equity of 11.79%. The business had revenue of $135.80 million during the quarter, compared to analyst estimates of $141.42 million. During the same period in the previous year, the business posted $0.43 EPS. The business’s revenue for the quarter was up 54.3% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, October 20th. Investors of record on Friday, October 5th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, October 4th. Sun Hydraulics’s payout ratio is currently 22.50%.

Several analysts recently issued reports on the stock. BidaskClub raised shares of Sun Hydraulics from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Robert W. Baird raised shares of Sun Hydraulics from a “neutral” rating to an “outperform” rating and set a $55.00 price target for the company in a research report on Thursday, September 20th. SunTrust Banks lifted their price target on shares of Sun Hydraulics to $62.00 and gave the company a “positive” rating in a research report on Thursday, October 4th. Finally, Zacks Investment Research raised shares of Sun Hydraulics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Sun Hydraulics has a consensus rating of “Hold” and a consensus price target of $60.83.

In other Sun Hydraulics news, Director Christine L. Koski sold 22,500 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $51.21, for a total transaction of $1,152,225.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Tricia L. Fulton sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $54.21, for a total value of $406,575.00. Following the transaction, the chief financial officer now owns 62,091 shares in the company, valued at $3,365,953.11. The disclosure for this sale can be found here. In the last three months, insiders sold 104,601 shares of company stock valued at $5,620,982. 7.80% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Royce & Associates LP lifted its stake in Sun Hydraulics by 0.8% during the 2nd quarter. Royce & Associates LP now owns 2,334,624 shares of the industrial products company’s stock valued at $112,506,000 after acquiring an additional 17,900 shares in the last quarter. Wasatch Advisors Inc. lifted its stake in Sun Hydraulics by 12.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,314,584 shares of the industrial products company’s stock valued at $111,540,000 after acquiring an additional 248,891 shares in the last quarter. BlackRock Inc. lifted its stake in Sun Hydraulics by 11.3% during the 2nd quarter. BlackRock Inc. now owns 1,882,223 shares of the industrial products company’s stock valued at $90,703,000 after acquiring an additional 191,707 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in Sun Hydraulics by 13.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,420,192 shares of the industrial products company’s stock valued at $77,798,000 after acquiring an additional 171,570 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Sun Hydraulics by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 947,817 shares of the industrial products company’s stock valued at $45,676,000 after acquiring an additional 53,912 shares in the last quarter. Institutional investors and hedge funds own 86.21% of the company’s stock.

The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 23.72 and a beta of 1.71.

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Sun Hydraulics Company Profile (NASDAQ:SNHY)

Helios Technologies designs, manufactures, and sells screw-in hydraulic cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems worldwide. The company operates through two segments, Hydraulics and Electronics. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems.

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