Haynes International (NASDAQ:HAYN) Rating Lowered to Sell at BidaskClub

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Haynes International (NASDAQ:HAYN) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday, BidAskClub reports.

A number of other analysts also recently issued reports on HAYN. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. ValuEngine downgraded Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 25th.

Shares of HAYN opened at $31.37 on Friday. The company has a market capitalization of $392.60 million, a P/E ratio of 108.17 and a beta of 1.70. The stock has a fifty day moving average of $30.87. Haynes International has a 52-week low of $24.46 and a 52-week high of $43.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.48 and a current ratio of 5.57.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The company had revenue of $127.47 million during the quarter, compared to the consensus estimate of $119.64 million. Haynes International had a return on equity of 1.12% and a net margin of 0.58%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, sell-side analysts anticipate that Haynes International will post 0.98 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Haynes International by 3.0% in the fourth quarter. BlackRock Inc. now owns 1,881,736 shares of the basic materials company’s stock worth $49,681,000 after buying an additional 54,403 shares during the last quarter. Bank of Montreal Can lifted its position in Haynes International by 3.8% in the first quarter. Bank of Montreal Can now owns 219,451 shares of the basic materials company’s stock worth $7,204,000 after buying an additional 8,005 shares during the last quarter. Geode Capital Management LLC lifted its position in Haynes International by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 138,845 shares of the basic materials company’s stock worth $3,665,000 after buying an additional 11,286 shares during the last quarter. Principal Financial Group Inc. lifted its position in Haynes International by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 101,516 shares of the basic materials company’s stock worth $2,680,000 after buying an additional 514 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Haynes International by 16.2% during the first quarter. Victory Capital Management Inc. now owns 49,600 shares of the basic materials company’s stock worth $1,628,000 after purchasing an additional 6,900 shares during the last quarter. Institutional investors own 98.09% 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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