Haynes International (NASDAQ:HAYN) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Haynes International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 10th. ValuEngine cut shares of Haynes International from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Haynes International currently has an average rating of “Hold” and a consensus price target of $44.00.
Shares of Haynes International stock opened at $30.73 on Friday. The stock has a market capitalization of $356.76 million, a P/E ratio of -39.40 and a beta of 1.45. Haynes International has a 1 year low of $28.08 and a 1 year high of $45.14. The company has a current ratio of 5.89, a quick ratio of 1.47 and a debt-to-equity ratio of 0.03.
Haynes International (NASDAQ:HAYN) last announced its quarterly earnings results on Thursday, August 2nd. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.17). The firm had revenue of $113.11 million during the quarter, compared to the consensus estimate of $113.57 million. Haynes International had a negative return on equity of 2.54% and a negative net margin of 6.66%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.32) EPS. As a group, analysts expect that Haynes International will post -0.07 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Global X Management Co LLC lifted its stake in Haynes International by 19.1% during the 2nd quarter. Global X Management Co LLC now owns 9,437 shares of the basic materials company’s stock valued at $347,000 after acquiring an additional 1,511 shares during the period. Barclays PLC lifted its stake in Haynes International by 76.7% during the 1st quarter. Barclays PLC now owns 3,860 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 1,676 shares during the period. Victory Capital Management Inc. lifted its stake in Haynes International by 5.0% during the 3rd quarter. Victory Capital Management Inc. now owns 42,700 shares of the basic materials company’s stock valued at $1,516,000 after acquiring an additional 2,045 shares during the period. Principal Financial Group Inc. lifted its stake in Haynes International by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 95,965 shares of the basic materials company’s stock valued at $3,561,000 after acquiring an additional 2,357 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new position in Haynes International during the 2nd quarter valued at about $107,000.
Haynes International Company Profile
Haynes International, Inc engages in the development, manufacture, and marketing of nickel-and cobalt-based alloys used in corrosion and high-temperature applications. It supports a range of industries such as aerospace, chemical processing, and industrial gas turbine. The company was founded by Elwood P.
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