Gloomy report doesn't cloud Sun Hydraulics

SARASOTA — Valve manufacturer Sun Hydraulics received a rare downgrade on its stock from a Wall Street firm.

Zacks Investment Research downgraded Sun's shares in a recent report to a “strong sell.” The downgrade came with a headline that stated, in part, “Sun Hydraulics faces bleak prospects.”

Zacks says the downgrade stems for an underperforming earnings report for the Sarasota-based company. “Sun Hydraulics Corp. reported lackluster results for first-quarter, leading to a 1.5% fall in its share price since then,” the Zacks report states. “Also, resentment over results was expressed through downward revisions in earnings estimates for the stock.”