Haynes International (NASDAQ:HAYN) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.
Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Haynes International from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Haynes International from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Wednesday, May 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $44.00.
Haynes International stock opened at $38.08 on Friday. The stock has a market cap of $497.61 million, a PE ratio of -48.82 and a beta of 1.51. Haynes International has a fifty-two week low of $29.31 and a fifty-two week 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 released its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). The firm had revenue of $113.11 million for the quarter, compared to analyst estimates of $113.57 million. Haynes International had a negative return on equity of 2.54% and a negative net margin of 6.66%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. research analysts expect that Haynes International will post 0.06 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in HAYN. Renaissance Technologies LLC bought a new stake in shares of Haynes International during the 4th quarter worth about $2,876,000. Deutsche Bank AG boosted its holdings in shares of Haynes International by 462.0% during the 4th quarter. Deutsche Bank AG now owns 89,506 shares of the basic materials company’s stock worth $2,867,000 after buying an additional 73,580 shares during the period. Guggenheim Capital LLC bought a new stake in shares of Haynes International during the 4th quarter worth about $883,000. Millennium Management LLC bought a new stake in shares of Haynes International during the 4th quarter worth about $889,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Haynes International during the 4th quarter worth about $213,000.
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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