The Chart of the Day belongs to the heavy machinery company Hyster-Yale Materials Handling (HY) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 2/23 the stock gained 59.21%.
Hyster-Yale Materials Handling, Inc., through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. The company manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. It markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships. The company also sells aftermarket parts under the Hyster and Yale, as well as UNISOURCE and PREMIER brands to Hyster and Yale dealers for the service of competitor lift trucks. In addition, it produces and distributes attachments, forks, and lift tables under the Bolzoni, Auramo, and Meyer brand names; and designs and produces products in the port equipment and rough terrain forklift markets. Further, the company designs, manufactures, and sells hydrogen fuel-cell stacks and engines. It serves light and heavy manufacturers, trucking and automotive companies, rental companies, building materials and paper suppliers, lumber, metal products, warehouses, retailers, food distributors, container handling companies, and U.S. and non-U.S. governmental agencies. The company was incorporated in 1991 and is headquartered in Cleveland, Ohio.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 39.68+Weighted Alpha
- 56.60% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 10 new highs and up 19.75% in the last month
- Relative Strength Index 67.12%
- Recently traded at $50.74 with 50 day moving average of $41.54
Fundamental Factors:
- Market Cap $848 million
- Revenue expected to grow 9.70% this year and another 2.20% next year
- Earnings are estimated to increase 149.50% this year and an additional 26.70% next year and continue to compound at an annual rate of 15.00% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued 2 strong buy
- Wall Street analysts gave price targets from $44 to $75 with a consensus of $59 for a 17%+ gain
- The individual investors following the stock on Motley Fool voted 30 to 3 for the stock to beat the market with the more experienced investors voting 2 to 1 for the same result
- Value Line gave the stock an average rating of 3 and predicted a total annual rate of return of 13% to 24%
- CFRAs MarketScope has a buy rating
- Zack comments: HY’s strong fundamentals are reflected in its POWR Ratings. The company has an overall rating of A, which translates to a Strong Buy in our proprietary rating system. It is ranked #14 in the Auto Parts industry. HY has an A grade for Growth and Sentiment and a B for Value and Momentum.
- 2,170 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
