ValuEngine Lowers Haynes International (NASDAQ:HAYN) to Sell

ValuEngine cut shares of Haynes International (NASDAQ:HAYN) from a hold rating to a sell rating in a research note released on Thursday morning, ValuEngine reports.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Haynes International from a strong sell rating to a hold rating in a research report on Tuesday, July 9th. BidaskClub lowered shares of Haynes International from a hold rating to a sell rating in a research report on Friday, July 12th.

NASDAQ HAYN traded up $0.76 during mid-day trading on Thursday, reaching $29.29. 204,226 shares of the stock were exchanged, compared to its average volume of 53,692. Haynes International has a 1-year low of $24.46 and a 1-year high of $42.40. The firm’s fifty day simple moving average is $31.00. The firm has a market capitalization of $357.07 million, a PE ratio of 52.83 and a beta of 1.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.57 and a quick ratio of 1.48.

Haynes International (NASDAQ:HAYN) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.09). Haynes International had a return on equity of 2.06% and a net margin of 1.21%. The firm had revenue of $126.03 million for the quarter, compared to analyst estimates of $130.14 million. During the same quarter last year, the business posted $0.05 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, analysts forecast that Haynes International will post 0.98 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund boosted its position in Haynes International by 3.9% during the first quarter. Texas Permanent School Fund now owns 8,499 shares of the basic materials company’s stock worth $279,000 after acquiring an additional 317 shares during the last quarter. Swiss National Bank raised its stake in Haynes International by 2.2% during the second quarter. Swiss National Bank now owns 23,300 shares of the basic materials company’s stock worth $741,000 after purchasing an additional 500 shares during the period. Principal Financial Group Inc. raised its stake in Haynes International by 0.5% during the fourth quarter. Principal Financial Group Inc. now owns 101,516 shares of the basic materials company’s stock worth $2,680,000 after purchasing an additional 514 shares during the period. BNP Paribas Arbitrage SA raised its stake in Haynes International by 882.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,887 shares of the basic materials company’s stock worth $95,000 after purchasing an additional 2,593 shares during the period. Finally, Aperio Group LLC raised its stake in Haynes International by 35.0% during the second quarter. Aperio Group LLC now owns 10,804 shares of the basic materials company’s stock worth $344,000 after purchasing an additional 2,800 shares during the period. Hedge funds and other institutional investors own 97.89% of the company’s stock.

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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