Haynes International (HAYN) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Haynes International (NASDAQ:HAYN) from a sell rating to a hold rating in a research note issued to investors on Friday, March 22nd, BidAskClub reports.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Haynes International from a hold rating to a sell rating in a research report on Wednesday, February 6th. ValuEngine cut Haynes International from a hold rating to a sell rating in a research report on Tuesday, March 12th.

Haynes International stock traded down $0.12 during trading hours on Friday, reaching $33.81. 26,308 shares of the company were exchanged, compared to its average volume of 54,179. Haynes International has a 12 month low of $24.46 and a 12 month high of $44.10. The company has a quick ratio of 1.35, a current ratio of 5.98 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $424.80 million, a P/E ratio of -483.00 and a beta of 1.79.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings data on Thursday, January 31st. The basic materials company reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). Haynes International had a positive return on equity of 0.02% and a negative net margin of 0.18%. The company had revenue of $107.07 million during the quarter, compared to analysts’ expectations of $104.63 million. Sell-side analysts anticipate that Haynes International will post 1.39 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantamental Technologies LLC acquired a new position in shares of Haynes International in the fourth quarter valued at $29,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of Haynes International in the fourth quarter valued at $93,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Haynes International by 351.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,966 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 3,088 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of Haynes International in the fourth quarter valued at $126,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Haynes International in the third quarter valued at $235,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

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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