EF Hutton analyst Chip Moore maintained a Buy rating on Hyster-Yale Materials Handling (HY – Research Report) today and set a price target of $80.00. The company’s shares closed today at $50.23.
Moore covers the Industrial Goods sector, focusing on stocks such as Ameresco, Hyster-Yale Materials Handling, and Enovix. According to TipRanks, Moore has an average return of 28.1% and a 56.52% success rate on recommended stocks.
Currently, the analyst consensus on Hyster-Yale Materials Handling is a Moderate Buy with an average price target of $80.00.
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Based on Hyster-Yale Materials Handling’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $999.3 million and a net profit of $33.7 million. In comparison, last year the company earned a revenue of $827.6 million and had a GAAP net loss of $28.7 million
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HY in relation to earlier this year.
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Hyster-Yale Materials Handling, Inc. engages in the manufacture of lift trucks. The firm provides an array of solutions aimed at meeting the specific materials handling needs of its customers including attachments and hydrogen fuel cell power products, telematics, automation and fleet management services, and a variety of other power options for its lift trucks. It designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks, attachments, and aftermarket parts marketed primarily under the Hyster and Yale brand names. The company was founded in 1999 and is headquartered in Cleveland, OH.
Read More on HY:
- Hyster introduces forklift stability control system to help support safety initiatives, adherence to best practices
- Hyster-Yale Materials reports Q1 EPS $1.55 vs. $($1.48) last year
- HYSTER-YALE MATERIALS HANDLING ANNOUNCES FIRST QUARTER 2023 RESULTS
- HY Earnings this Week: How Will it Perform?
- Yale expands availability of award-winning technology to support lift truck stability
