Haynes International, Inc. (NASDAQ:HAYN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

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. “

HAYN has been the subject of a number of other research reports. KeyCorp reissued a “hold” rating on shares of Haynes International in a report on Thursday, November 16th. ValuEngine cut Haynes International from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $36.50.

Haynes International (NASDAQ HAYN) traded up $0.37 during trading on Thursday, hitting $32.51. The stock had a trading volume of 56,400 shares, compared to its average volume of 78,844. The company has a quick ratio of 2.02, a current ratio of 6.49 and a debt-to-equity ratio of 0.02. Haynes International has a 12 month low of $28.97 and a 12 month high of $48.37.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings results on Thursday, November 16th. The basic materials company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). Haynes International had a negative return on equity of 4.59% and a negative net margin of 3.63%. The business had revenue of $100.80 million for the quarter, compared to analyst estimates of $100.19 million. During the same period last year, the firm posted $0.08 EPS. Haynes International’s quarterly revenue was down 6.2% on a year-over-year basis. research analysts forecast that Haynes International will post 0.77 EPS for the current year.

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A number of institutional investors and hedge funds have recently modified their holdings of HAYN. Investment Counselors of Maryland LLC increased its holdings in Haynes International by 108.3% in the 4th quarter. Investment Counselors of Maryland LLC now owns 331,700 shares of the basic materials company’s stock worth $12,170,000 after purchasing an additional 172,437 shares in the last quarter. First Trust Advisors LP increased its holdings in Haynes International by 83.0% in the 4th quarter. First Trust Advisors LP now owns 59,922 shares of the basic materials company’s stock worth $2,199,000 after purchasing an additional 27,186 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Haynes International by 1.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 118,938 shares of the basic materials company’s stock worth $4,364,000 after purchasing an additional 1,500 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Haynes International by 4.6% in the 4th quarter. Principal Financial Group Inc. now owns 82,582 shares of the basic materials company’s stock worth $3,030,000 after purchasing an additional 3,606 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Haynes International by 10.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 553,482 shares of the basic materials company’s stock worth $20,308,000 after purchasing an additional 51,926 shares in the last quarter. 98.77% of the stock is owned by institutional investors and hedge funds.

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.

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