Haynes International, Inc. (HAYN) Rating Increased to Hold at Zacks Investment Research

Haynes International, Inc. (NASDAQ:HAYN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, October 30th.

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 equities research analysts also recently issued reports about the stock. J P Morgan Chase & Co reissued a “neutral” rating and issued a $26.00 price target (down from $33.50) on shares of Haynes International in a report on Saturday, July 22nd. ValuEngine downgraded shares of Haynes International from a “hold” rating to a “sell” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $36.50.

Haynes International (NASDAQ HAYN) opened at $32.37 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.15 and a quick ratio of 1.96. Haynes International has a 1 year low of $28.97 and a 1 year high of $48.37.

Haynes International (NASDAQ:HAYN) last announced its quarterly earnings results on Thursday, November 16th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). Haynes International had a negative return on equity of 3.12% and a negative net margin of 2.58%. The firm had revenue of $100.80 million during the quarter, compared to analysts’ expectations of $100.19 million. During the same period in the previous year, the company posted $0.08 earnings per share. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. sell-side analysts expect that Haynes International will post 0.77 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This article was reported by BBNS and is the property of of BBNS. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://baseballnewssource.com/markets/haynes-international-inc-hayn-rating-increased-to-hold-at-zacks-investment-research/1745217.html.

Hedge funds have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan raised its stake in shares of Haynes International by 4.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 2,950 shares of the basic materials company’s stock worth $107,000 after acquiring an additional 130 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Haynes International during the second quarter worth approximately $140,000. BNP Paribas Arbitrage SA raised its stake in shares of Haynes International by 50.2% during the second quarter. BNP Paribas Arbitrage SA now owns 4,098 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 1,370 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Haynes International during the first quarter worth approximately $229,000. Finally, Arizona State Retirement System raised its stake in shares of Haynes International by 1.5% during the first quarter. Arizona State Retirement System now owns 6,565 shares of the basic materials company’s stock worth $250,000 after acquiring an additional 100 shares in the last quarter. 98.56% of the stock is currently owned by hedge funds and other institutional investors.

Haynes International Company Profile

Haynes International, Inc (Haynes) is a producer of nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company also produces its products as seamless and welded tubulars, and in slab, bar, billet and wire forms. It focuses on developing, manufacturing, marketing and distributing alloys, which are sold in the aerospace, chemical processing and industrial gas turbine industries.

Get a free copy of the Zacks research report on Haynes International (HAYN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Haynes International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Haynes International Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.