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

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

Several other equities research analysts have also commented on the company. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. ValuEngine lowered Wave Life Sciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 25th.

Shares of HAYN opened at $31.37 on Friday. The stock has a market cap of $392.60 million, a price-to-earnings ratio of 108.17 and a beta of 1.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.48 and a current ratio of 5.57. The company’s fifty day moving average is $30.87. Haynes International has a 1-year low of $24.46 and a 1-year high of $43.20.

Haynes International (NASDAQ:HAYN) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The company had revenue of $127.47 million for the quarter, compared to analysts’ expectations of $119.64 million. Haynes International had a net margin of 0.58% and a return on equity of 1.12%. Haynes International’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Research analysts expect that Haynes International will post 0.98 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of HAYN. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Haynes International in the 4th quarter worth $93,000. BNP Paribas Arbitrage SA increased its stake in shares of Haynes International by 882.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,887 shares of the basic materials company’s stock worth $95,000 after purchasing an additional 2,593 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Haynes International by 351.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,966 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 3,088 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Haynes International in the 4th quarter worth $126,000. Finally, SG Americas Securities LLC purchased a new stake in Haynes International in the 1st quarter worth $160,000. Hedge funds and other 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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