Haynes International (NASDAQ:HAYN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Haynes International (NASDAQ:HAYN) from a sell rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

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 topic of a number of other research reports. BidaskClub upgraded shares of Haynes International from a sell rating to a hold rating in a research report on Monday, September 16th. ValuEngine lowered shares of Haynes International from a hold rating to a sell rating in a research report on Friday, October 25th.

Haynes International stock traded down $0.30 during trading hours on Friday, hitting $37.00. The company had a trading volume of 139,200 shares, compared to its average volume of 61,559. The firm has a market cap of $448.35 million, a PE ratio of 47.44 and a beta of 1.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.56 and a quick ratio of 1.57. Haynes International has a one year low of $24.46 and a one year high of $38.07. The firm has a 50-day moving average of $35.55 and a 200 day moving average of $32.41.

Haynes International (NASDAQ:HAYN) last released its quarterly earnings results on Thursday, November 14th. The basic materials company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.08. The firm had revenue of $129.60 million for the quarter, compared to analysts’ expectations of $129.35 million. Haynes International had a net margin of 1.99% and a return on equity of 2.96%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. As a group, research analysts expect that Haynes International will post 2 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC boosted its position in shares of Haynes International by 64.9% during the 2nd quarter. Quantamental Technologies LLC now owns 978 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 385 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Haynes International by 16.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,191 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 1,164 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in Haynes International in the 2nd quarter valued at approximately $332,000. Aperio Group LLC lifted its stake in Haynes International by 35.0% in the 2nd quarter. Aperio Group LLC now owns 10,804 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 2,800 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Haynes International by 124.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,614 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 5,336 shares during the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

About Haynes International

Haynes International, Inc engages in the development, manufacture, and marketing of nickel-and cobalt-based alloys used in corrosion and high-temperature applications. It supports a range of industries such as aerospace, chemical processing, and industrial gas turbine. The company was founded by Elwood P.

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