Sun Hydraulics Corporation (NASDAQ:SNHY) released its quarterly earnings data 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, Bloomberg Earnings reports. Sun Hydraulics Corporation had a return on equity of 13.25% and a net margin of 9.63%. The business had revenue of $89.30 million for the quarter, compared to the consensus estimate of $79.18 million. During the same quarter in the previous year, the company posted $0.26 EPS. The company’s revenue was up 75.8% compared to the same quarter last year.
Shares of Sun Hydraulics Corporation (SNHY) opened at 46.32 on Friday. The firm has a 50-day moving average price of $43.18 and a 200-day moving average price of $40.00. The company has a market cap of $1.25 billion, a P/E ratio of 48.76 and a beta of 1.81. Sun Hydraulics Corporation has a 1-year low of $28.45 and a 1-year high of $48.44.
In related news, Director Christine L. Koski sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $42.20, for a total value of $844,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allen J. Carlson sold 9,000 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $43.00, for a total value of $387,000.00. Following the completion of the sale, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,505,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,440 shares of company stock valued at $6,065,767. Insiders own 10.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC bought a new stake in Sun Hydraulics Corporation during the second quarter valued at approximately $22,193,000. GW&K Investment Management LLC bought a new stake in Sun Hydraulics Corporation during the second quarter valued at approximately $19,460,000. Norges Bank bought a new stake in Sun Hydraulics Corporation during the fourth quarter valued at approximately $16,192,000. RidgeWorth Capital Management LLC boosted its stake in Sun Hydraulics Corporation by 510.8% in the first quarter. RidgeWorth Capital Management LLC now owns 387,051 shares of the industrial products company’s stock valued at $14,011,000 after buying an additional 323,684 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Sun Hydraulics Corporation by 186.7% in the second quarter. Ameriprise Financial Inc. now owns 258,333 shares of the industrial products company’s stock valued at $11,023,000 after buying an additional 168,220 shares in the last quarter. 79.50% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on SNHY shares. BidaskClub downgraded Sun Hydraulics Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. TheStreet raised Sun Hydraulics Corporation from a “c” rating to a “b” rating in a research note on Monday, May 8th. Finally, Zacks Investment Research raised Sun Hydraulics Corporation from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Saturday, May 13th.
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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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