Helios Technologies (NASDAQ:HLIO) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Helios Technologies (NASDAQ:HLIO) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. The firm currently has $41.00 price objective on the stock.

According to Zacks, “Helios Technologies Inc. is an industrial technology company. It develops and manufactures hydraulic and electronic control solutions. The company’s operating subsidiaries includes Sun Hydraulics, Enovation Controls and Faster Group. Its operating business segment consists of Hydraulics and Electronics. Hydraulics segment includes material handling, construction equipment, agriculture, specialized vehicles and energy. Electronics segment provides electronic control solutions. Helios Technologies Inc., formerly known as Sun Hydraulics Corporation, is based in Sarasota, United States. “

Several other research firms have also weighed in on HLIO. Robert W. Baird cut their target price on shares of Helios Technologies from $49.00 to $35.00 and set a neutral rating on the stock in a report on Monday, April 13th. Morgan Stanley upgraded shares of Helios Technologies from an underweight rating to an equal weight rating and set a $38.00 target price on the stock in a report on Friday, May 29th. Finally, BidaskClub upgraded shares of Helios Technologies from a hold rating to a buy rating in a report on Friday, July 17th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Helios Technologies currently has an average rating of Hold and an average price target of $38.60.

Shares of NASDAQ HLIO opened at $37.83 on Wednesday. The company’s 50 day simple moving average is $35.95 and its 200 day simple moving average is $37.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.61 and a quick ratio of 1.51. The firm has a market capitalization of $1.21 billion, a P/E ratio of 45.58 and a beta of 1.23. Helios Technologies has a fifty-two week low of $29.03 and a fifty-two week high of $49.49.

Helios Technologies (NASDAQ:HLIO) last posted its earnings results on Monday, May 4th. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.14. The company had revenue of $129.50 million for the quarter, compared to analyst estimates of $121.58 million. Helios Technologies had a net margin of 4.96% and a return on equity of 13.44%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. Sell-side analysts expect that Helios Technologies will post 1.58 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Sunday, July 5th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, July 1st. Helios Technologies’s dividend payout ratio is 14.81%.

Several hedge funds have recently modified their holdings of HLIO. Victory Capital Management Inc. grew its position in Helios Technologies by 47.6% in the fourth quarter. Victory Capital Management Inc. now owns 7,550 shares of the company’s stock valued at $349,000 after purchasing an additional 2,436 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Helios Technologies by 9.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,484 shares of the company’s stock valued at $300,000 after purchasing an additional 582 shares in the last quarter. Raymond James & Associates grew its position in Helios Technologies by 16.0% in the fourth quarter. Raymond James & Associates now owns 11,213 shares of the company’s stock valued at $518,000 after purchasing an additional 1,543 shares in the last quarter. Amalgamated Bank grew its position in Helios Technologies by 5.6% in the fourth quarter. Amalgamated Bank now owns 5,511 shares of the company’s stock valued at $255,000 after purchasing an additional 290 shares in the last quarter. Finally, UBS Group AG grew its position in Helios Technologies by 1,859.3% in the fourth quarter. UBS Group AG now owns 21,572 shares of the company’s stock valued at $997,000 after purchasing an additional 20,471 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Helios Technologies Company Profile

Helios Technologies, Inc develops, manufactures, and sells solutions for the hydraulics and electronics markets. The company operates through two segments, Hydraulics and Electronics. The Hydraulics segment offers screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the industrial and mobile hydraulics markets; quick release hydraulic coupling solutions for the agriculture, construction equipment, and industrial markets; and hydraulic, pneumatic, electronic, and instrumentation solutions to a range of industries, including agriculture, industrial, mining, and material handling.

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