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

Investment analysts at StockNews.com initiated coverage on shares of Haynes International (NASDAQ:HAYN) in a note issued to investors on Friday. The firm set a “hold” rating on the basic materials company’s stock.

Several other equities research analysts also recently commented on the stock. Noble Financial downgraded shares of Haynes International from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 6th. Northcoast Research reiterated a “neutral” rating on shares of Haynes International in a research note on Thursday, March 14th.

Haynes International Price Performance

Shares of HAYN opened at $60.25 on Friday. The company has a market cap of $770.00 million, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 0.75 and a beta of 1.43. Haynes International has a twelve month low of $41.15 and a twelve month high of $60.86. 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 company has a 50 day moving average of $59.91 and a two-hundred day moving average of $53.88.

Haynes International (NASDAQ:HAYN) last posted its quarterly earnings data on Friday, February 9th. The basic materials company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.10). Haynes International had a return on equity of 9.89% and a net margin of 6.94%. The company had revenue of $147.36 million for the quarter, compared to analyst estimates of $151.94 million. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, analysts predict that Haynes International will post 3.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HAYN. US Bancorp DE raised its holdings in shares of Haynes International by 188.8% during the first quarter. US Bancorp DE now owns 777 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 508 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Haynes International by 77.8% during the second quarter. Captrust Financial Advisors now owns 1,083 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 474 shares during the last quarter. Covestor Ltd raised its holdings in shares of Haynes International by 484.2% during the third quarter. Covestor Ltd now owns 1,589 shares of the basic materials company’s stock worth $74,000 after purchasing an additional 1,317 shares during the last quarter. BNP Paribas Arbitrage SNC raised its holdings in shares of Haynes International by 11.1% during the third quarter. BNP Paribas Arbitrage SNC now owns 4,026 shares of the basic materials company’s stock worth $141,000 after purchasing an additional 402 shares during the last quarter. Finally, MetLife Investment Management LLC raised 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 worth $250,000 after purchasing an additional 334 shares during the last quarter. Hedge funds and other institutional investors 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.