Haynes International (HAYN) Rating Increased to Overweight at JPMorgan Chase & Co.

Haynes International (NASDAQ:HAYN) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Monday, Marketbeat Ratings reports.

Several other research firms have also issued reports on HAYN. Zacks Investment Research upgraded Haynes International from a “sell” rating to a “hold” rating and set a $42.00 target price for the company in a research report on Wednesday, January 24th. ValuEngine lowered Haynes International from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub lowered Haynes International from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Finally, KeyCorp restated a “hold” rating on shares of Haynes International in a research report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.00.

Haynes International (HAYN) traded up $1.71 during trading on Monday, hitting $38.50. The stock had a trading volume of 230,972 shares, compared to its average volume of 95,582. The firm has a market cap of $460.62, a price-to-earnings ratio of -14.86 and a beta of 1.60. Haynes International has a 52 week low of $28.97 and a 52 week high of $43.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.02 and a quick ratio of 1.67.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, February 1st. The basic materials company reported ($0.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.10. The company had revenue of $89.70 million during the quarter, compared to analyst estimates of $94.95 million. Haynes International had a negative return on equity of 3.76% and a negative net margin of 8.18%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) EPS. equities research analysts expect that Haynes International will post 0.49 EPS for the current fiscal year.

In other Haynes International news, Director Dawne S. Hickton acquired 2,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were acquired at an average price of $31.50 per share, for a total transaction of $63,000.00. Following the acquisition, the director now directly owns 5,300 shares of the company’s stock, valued at approximately $166,950. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HAYN. Schwab Charles Investment Management Inc. lifted its stake in Haynes International by 20.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 64,330 shares of the basic materials company’s stock valued at $2,336,000 after acquiring an additional 10,900 shares in the last quarter. JPMorgan Chase & Co. lifted its stake 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 valued at $656,000 after acquiring an additional 16,056 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Haynes International by 5.5% in the 2nd quarter. Alliancebernstein L.P. now owns 13,433 shares of the basic materials company’s stock valued at $488,000 after acquiring an additional 700 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in Haynes International by 0.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 33,941 shares of the basic materials company’s stock valued at $1,232,000 after acquiring an additional 297 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Haynes International by 7.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 7,540 shares of the basic materials company’s stock valued at $274,000 after acquiring an additional 530 shares in the last quarter. Hedge funds and other institutional investors own 98.56% of the company’s stock.

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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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