Helios TechnologiesNYSE: HLIO

SARASOTA, Fla.--(BUSINESS WIRE)--Helios Technologies, Inc. (NYSE: HLIO) Unveils SenderCAN® Plus: The Next Generation of I/O Modules for Rugged Applications.

Here is how Helios Technologies (HLIO) and Applied Industrial Technologies (AIT) have performed compared to their sector so far this year.

From a technical perspective, Helios Technologies, Inc (HLIO) is looking like an interesting pick, as it just reached a key level of support. HLIO's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.

Helios Technologies (HLIO) shares are on the rise and are expected to continue moving higher in the short term due to positive revisions in earnings estimates.

Helios Towers reached a new peak for the year as the mobile infrastructure company, which focuses on Africa, announced that an increase in tenants for its towers contributed to revenue growth in the first quarter of 2024. Adjustments to its depreciation policy led to operating profits doubling to US$67 million and a 21% increase in cash flow.

Analysts' price targets for Helios Technologies (HLIO) suggest a 28% potential increase in the stock. Although this metric may not always be accurate, the consensus among analysts in increasing earnings estimates does indicate a positive outlook for the stock.

Helios Technologies, Inc. (HLIO) Q4 2024 Earnings Call Transcript

The headline numbers for Helios Technologies (HLIO) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

The mean of analysts' price targets for Helios Technologies (HLIO) points to a 48.5% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.