Haynes International (HAYN) Downgraded to “Hold” at BidaskClub

BidaskClub cut shares of Haynes International (NASDAQ:HAYN) from a buy rating to a hold rating in a report published on Friday.

Other equities research analysts also recently issued research reports about the company. ValuEngine raised Haynes International from a hold rating to a buy rating in a research report on Friday, May 18th. Zacks Investment Research downgraded Haynes International from a buy rating to a hold rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Haynes International currently has a consensus rating of Buy and a consensus price target of $35.00.

HAYN stock opened at $41.93 on Friday. Haynes International has a 12-month low of $28.97 and a 12-month high of $45.14. The company has a quick ratio of 1.72, a current ratio of 6.44 and a debt-to-equity ratio of 0.03. The stock has a market cap of $541.99 million, a price-to-earnings ratio of -53.76 and a beta of 1.38.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings results on Thursday, May 3rd. The basic materials company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.21). Haynes International had a negative net margin of 8.08% and a negative return on equity of 4.00%. The firm had revenue of $110.21 million for the quarter, compared to analysts’ expectations of $106.71 million. During the same period last year, the firm posted ($0.10) EPS. Haynes International’s revenue was up 6.9% on a year-over-year basis. research analysts anticipate that Haynes International will post 0.35 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, May 31st. Haynes International’s payout ratio is -112.82%.

Several hedge funds and other institutional investors have recently modified their holdings of HAYN. SG Americas Securities LLC purchased a new stake in shares of Haynes International in the fourth quarter worth about $111,000. Barclays PLC boosted its position in shares of Haynes International by 76.7% in the first quarter. Barclays PLC now owns 3,860 shares of the basic materials company’s stock worth $144,000 after buying an additional 1,676 shares during the period. KBC Group NV purchased a new stake in shares of Haynes International in the first quarter worth about $189,000. MetLife Investment Advisors LLC purchased a new stake in shares of Haynes International in the fourth quarter worth about $213,000. Finally, Virtu Financial LLC purchased a new stake in shares of Haynes International in the fourth quarter worth about $226,000.

About Haynes International

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, Asia, and internationally. The company offers high-temperature resistant alloys (HTA) and corrosion-resistant alloys (CRA). Its HTA products are used by manufacturers of equipment, including jet engines for the aerospace market; gas turbine engines for power generation and waste incineration; and industrial heating equipment.

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