Haynes International, Inc. (HAYN) Downgraded by ValuEngine to Sell
ValuEngine downgraded shares of Haynes International, Inc. (NASDAQ:HAYN) from a hold rating to a sell rating in a report published on Friday.
Several other research firms have also recently weighed in on HAYN. Zacks Investment Research cut Haynes International from a hold rating to a strong sell rating in a report on Tuesday, July 11th. Longbow Research upgraded Haynes International from a neutral rating to a buy rating and set a $47.00 price objective on the stock in a report on Monday, May 15th. Finally, J P Morgan Chase & Co reiterated a neutral rating and set a $26.00 price objective (down previously from $33.50) on shares of Haynes International in a report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $36.50.
Haynes International (NASDAQ:HAYN) traded up 2.26% during mid-day trading on Friday, hitting $31.24. 52,410 shares of the stock were exchanged. The stock’s market capitalization is $387.38 million. The firm has a 50-day moving average price of $31.18 and a 200-day moving average price of $36.05. Haynes International has a 12-month low of $28.97 and a 12-month high of $48.37.
Haynes International (NASDAQ:HAYN) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by $0.02. Haynes International had a negative net margin of 0.84% and a negative return on equity of 1.59%. The business had revenue of $97.98 million for the quarter, compared to the consensus estimate of $97.54 million. During the same quarter last year, the firm earned $0.22 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts predict that Haynes International will post ($0.77) earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, August 30th. Haynes International’s payout ratio is -314.29%.
Large investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund boosted its stake in Haynes International by 0.8% in the second quarter. Texas Permanent School Fund now owns 9,132 shares of the basic materials company’s stock valued at $332,000 after buying an additional 74 shares during the last quarter. Arizona State Retirement System boosted its stake in Haynes International by 1.5% in the first quarter. Arizona State Retirement System now owns 6,565 shares of the basic materials company’s stock valued at $250,000 after buying an additional 100 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Haynes International by 4.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 2,950 shares of the basic materials company’s stock valued at $107,000 after buying an additional 130 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Haynes International by 1.4% in the first quarter. Nationwide Fund Advisors now owns 10,130 shares of the basic materials company’s stock valued at $386,000 after buying an additional 137 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Haynes International by 0.6% in the first quarter. Victory Capital Management Inc. now owns 29,595 shares of the basic materials company’s stock valued at $1,128,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 98.64% of the company’s stock.
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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