Wed Sep 25 03:18:55 UTC 2024: ## Hyster-Yale Materials Handling Upgraded to “Buy” by StockNews.com
**New York, NY – September 24, 2024** – Hyster-Yale Materials Handling (NYSE:HY) received an upgrade to “buy” from “hold” by equities researchers at StockNews.com on Tuesday. The move comes after a strong earnings report from the industrial products company, exceeding analyst expectations in both earnings per share and revenue.
Hyster-Yale reported $3.58 EPS for the quarter ended August 6th, beating analyst estimates by $1.30. Revenue reached $1.17 billion, surpassing expectations of $1.08 billion. The company also boasts a strong return on equity (44.49%) and net margin (4.13%).
Analysts are optimistic about the company’s future, projecting 9.69 earnings per share for the current fiscal year. This positive outlook is reflected in the stock’s current “Moderate Buy” rating and consensus price target of $87.00, according to MarketBeat.
Increased institutional investor interest further supports the optimistic sentiment. Several prominent institutions, including Mirae Asset Global Investments Co. Ltd., Acadian Asset Management LLC, American Century Companies Inc., Jacobs Levy Equity Management Inc., and Bank of New York Mellon Corp, have significantly increased their holdings in Hyster-Yale in recent quarters.
Hyster-Yale, a leading manufacturer of lift trucks and related equipment, markets its products under the well-known Hyster and Yale brand names. The company’s strong financial performance and positive analyst outlook suggest potential for further growth in the coming months.
First Piper 