BidaskClub Upgrades Haynes International (NASDAQ:HAYN) to Buy

BidaskClub upgraded shares of Haynes International (NASDAQ:HAYN) from a hold rating to a buy rating in a report issued on Sunday, February 11th.

Several other brokerages also recently issued reports on HAYN. Zacks Investment Research downgraded shares of Haynes International from a buy rating to a hold rating in a report on Monday, February 5th. JPMorgan Chase & Co. raised shares of Haynes International from a neutral rating to an overweight rating in a report on Monday, February 5th. ValuEngine downgraded shares of Haynes International from a hold rating to a sell rating in a research note on Friday, February 2nd. Finally, KeyCorp reissued a hold rating on shares of Haynes International in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $38.00.

Shares of Haynes International (NASDAQ:HAYN) opened at $42.93 on Friday. The company has a market cap of $537.50, a PE ratio of -16.58 and a beta of 1.60. Haynes International has a fifty-two week low of $28.97 and a fifty-two week high of $43.94. The company has a current ratio of 6.02, a quick ratio of 1.67 and a debt-to-equity ratio of 0.03.

Haynes International (NASDAQ:HAYN) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. The firm had revenue of $89.70 million for the quarter, compared to the consensus estimate of $94.95 million. Haynes International had a negative net margin of 8.18% and a negative return on equity of 3.76%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. analysts forecast that Haynes International will post 0.79 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, February 28th. Haynes International’s payout ratio is -33.98%.

In related news, Director Dawne S. Hickton purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average price of $31.50 per share, with a total value of $63,000.00. Following the completion of the transaction, the director now owns 5,300 shares of the company’s stock, valued at approximately $166,950. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.56% of the company’s stock.

A number of hedge funds have recently modified their holdings of HAYN. MetLife Investment Advisors LLC acquired a new stake in shares of Haynes International in the fourth quarter worth $213,000. Millennium Management LLC acquired a new stake in shares of Haynes International in the fourth quarter worth $889,000. Two Sigma Investments LP increased its position in shares of Haynes International by 166.7% in the fourth quarter. Two Sigma Investments LP now owns 68,624 shares of the basic materials company’s stock worth $2,199,000 after acquiring an additional 42,898 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Haynes International by 12.6% in the fourth quarter. Two Sigma Advisers LP now owns 59,851 shares of the basic materials company’s stock worth $1,918,000 after acquiring an additional 6,700 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Haynes International by 5.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 103,468 shares of the basic materials company’s stock worth $3,316,000 after acquiring an additional 5,204 shares in the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.

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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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