Robert W. Baird Downgrades Sun Hydraulics Corp to Hold

By Ryan Adsit

In a report released today, Mircea Dobre from Robert W. Baird downgraded Sun Hydraulics Corp (NASDAQ: SNHY) to Hold. The company’s shares closed yesterday at $57.13, close to its 52-week high of $57.73.

According to TipRanks.com, Dobre is a 4-star analyst with an average return of 9.8% and a 66.7% success rate. Dobre covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, John Bean Technologies, and Hyster-Yale Materials.

Sun Hydraulics Corp has an analyst consensus of Hold.

Based on Sun Hydraulics Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $89.34 million and quarterly net profit of $7.28 million. In comparison, last year the company earned revenue of $45.23 million and had a net profit of $4.99 million.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock.

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Sun Hydraulics Corp. designs and manufactures screw in hydraulic cartridge valves and manifolds, which are used to control force, speed and motion as integral components in fluid power systems. The company operates in two segments: Hydraulics and Electronics. The Hydraulics segment consists of all of the historical Sun Hydraulics companies globally.