Haynes International (HAYN) Downgraded by BidaskClub

Haynes International (NASDAQ:HAYN) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Haynes International from a “strong sell” rating to a “hold” rating in a research note on Monday, October 30th. KeyCorp reissued a “hold” rating on shares of Haynes International in a research report on Thursday, November 16th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Haynes International has an average rating of “Hold” and a consensus target price of $36.50.

Haynes International (NASDAQ HAYN) opened at $34.98 on Friday. Haynes International has a one year low of $28.97 and a one year high of $43.95. The company has a current ratio of 6.49, a quick ratio of 2.02 and a debt-to-equity ratio of 0.02. The company has a market cap of $442.71, a PE ratio of -42.66 and a beta of 1.48.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings data on Thursday, November 16th. The basic materials company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.06). Haynes International had a negative net margin of 2.58% and a negative return on equity of 3.05%. The company had revenue of $100.80 million for the quarter, compared to analyst estimates of $100.19 million. During the same period in the prior year, the company earned $0.08 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. sell-side analysts forecast that Haynes International will post 0.28 earnings per share for the current year.

In other Haynes International news, Director Dawne S. Hickton bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average price of $31.50 per share, with a total value of $63,000.00. Following the transaction, the director now owns 5,300 shares in the company, valued at $166,950. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.41% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. increased its position in Haynes International by 5.5% during the 2nd quarter. Alliancebernstein L.P. now owns 13,433 shares of the basic materials company’s stock worth $488,000 after purchasing an additional 700 shares in the last quarter. Boston Partners increased its position in Haynes International by 141.8% during the 3rd quarter. Boston Partners now owns 295,230 shares of the basic materials company’s stock worth $10,602,000 after purchasing an additional 173,120 shares in the last quarter. Royce & Associates LP increased its position in Haynes International by 2.6% during the 3rd quarter. Royce & Associates LP now owns 1,122,206 shares of the basic materials company’s stock worth $40,298,000 after purchasing an additional 28,207 shares in the last quarter. Wells Fargo & Company MN increased its position in Haynes International by 1,968.2% during the 3rd quarter. Wells Fargo & Company MN now owns 191,428 shares of the basic materials company’s stock worth $6,875,000 after purchasing an additional 182,172 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Haynes International by 799.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 18,064 shares of the basic materials company’s stock worth $656,000 after acquiring an additional 16,056 shares during the period.

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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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