Haynes International (NASDAQ:HAYN) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued on Wednesday, Zacks.com reports.
According to Zacks, "Haynes International, Inc. is a technology-oriented company devoted primarily to the development and manufacture of high-performance nickel- and cobalt-based alloys for service in severe corrosion and high-temperature applications. Superior customer service and technical support are provided worldwide by well-trained professionals within the company. Haynes' service centers and affiliates have available in-stock sheet, plate, bar, wire, tubing, forging stock, fittings, and flanges. "
Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Haynes International from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, May 4th. BidaskClub lowered shares of Haynes International from a "hold" rating to a "sell" rating in a research note on Monday, May 25th. Finally, Sidoti started coverage on shares of Haynes International in a research note on Wednesday, June 17th. They set a "buy" rating for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. The stock currently has a consensus rating of "Hold" and an average target price of $27.00.
NASDAQ HAYN opened at $23.56 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 4.87 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $23.32 and a two-hundred day moving average of $25.11. The firm has a market capitalization of $290.07 million, a price-to-earnings ratio of 17.32 and a beta of 1.46. Haynes International has a 52 week low of $17.61 and a 52 week high of $39.04.
Haynes International (NASDAQ:HAYN) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.06 by $0.26. The company had revenue of $111.56 million during the quarter, compared to analyst estimates of $113.01 million. Haynes International had a net margin of 3.61% and a return on equity of 5.57%. Equities research analysts anticipate that Haynes International will post 0.34 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its stake in Haynes International by 5.3% in the first quarter. Thrivent Financial for Lutherans now owns 10,488 shares of the basic materials company's stock worth $216,000 after acquiring an additional 524 shares during the period. Swiss National Bank lifted its stake in Haynes International by 2.6% in the fourth quarter. Swiss National Bank now owns 23,900 shares of the basic materials company's stock worth $855,000 after acquiring an additional 600 shares during the period. Legal & General Group Plc lifted its stake in Haynes International by 1.9% in the first quarter. Legal & General Group Plc now owns 32,770 shares of the basic materials company's stock worth $675,000 after acquiring an additional 623 shares during the period. Algert Global LLC lifted its stake in Haynes International by 11.8% in the fourth quarter. Algert Global LLC now owns 9,600 shares of the basic materials company's stock worth $343,000 after acquiring an additional 1,010 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Haynes International by 2.7% in the first quarter. Victory Capital Management Inc. now owns 49,868 shares of the basic materials company's stock worth $1,028,000 after acquiring an additional 1,318 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.
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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