StockNews.com Initiates Coverage on Haynes International (NASDAQ:HAYN)

Equities researchers at StockNews.com started coverage on shares of Haynes International (NASDAQ:HAYN) in a research note issued on Friday. The brokerage set a “hold” rating on the basic materials company’s stock.

A number of other research firms have also issued reports on HAYN. Noble Financial lowered Haynes International from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 6th. Northcoast Research reaffirmed a “neutral” rating on shares of Haynes International in a report on Thursday, March 14th.

Haynes International Trading Down 0.1 %

Shares of NASDAQ HAYN opened at $60.35 on Friday. The company has a quick ratio of 1.69, a current ratio of 7.62 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $771.27 million, a P/E ratio of 18.51, a PEG ratio of 0.75 and a beta of 1.43. Haynes International has a 52-week low of $41.15 and a 52-week high of $60.86. The stock’s 50 day moving average price is $59.90 and its two-hundred day moving average price is $53.72.

Haynes International (NASDAQ:HAYN) last issued its earnings results on Friday, February 9th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.10). The business had revenue of $147.36 million during the quarter, compared to the consensus estimate of $151.94 million. Haynes International had a return on equity of 9.89% and a net margin of 6.94%. During the same period in the prior year, the business earned $0.61 EPS. On average, analysts anticipate that Haynes International will post 3.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC increased its holdings in shares of Haynes International by 6.0% during the first quarter. MetLife Investment Management LLC now owns 5,871 shares of the basic materials company’s stock valued at $250,000 after purchasing an additional 334 shares during the period. BNP Paribas Arbitrage SNC increased its stake in Haynes International by 11.1% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 4,026 shares of the basic materials company’s stock valued at $141,000 after buying an additional 402 shares during the period. Captrust Financial Advisors raised its position in shares of Haynes International by 77.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,083 shares of the basic materials company’s stock worth $35,000 after buying an additional 474 shares in the last quarter. US Bancorp DE lifted its stake in shares of Haynes International by 188.8% in the 1st quarter. US Bancorp DE now owns 777 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 508 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in shares of Haynes International by 2.4% in the fourth quarter. New York State Teachers Retirement System now owns 26,061 shares of the basic materials company’s stock valued at $1,487,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 97.31% of the company’s stock.

Haynes International Company Profile

Haynes International, Inc develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coil, and plate forms in the United States, Europe, China, and internationally. The company offers high-temperature resistant alloys used by manufacturers of equipment, including jet engines for the aerospace market, gas turbine engines for power generation, and industrial heating equipment.