Haynes International (NASDAQ:HAYN) Coverage Initiated at StockNews.com

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

Other analysts have also recently issued research reports about the company. Noble Financial cut Haynes International from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 6th. Northcoast Research reissued a “neutral” rating on shares of Haynes International in a report on Thursday, March 14th.

Haynes International Stock Performance

Shares of HAYN opened at $60.14 on Tuesday. The stock has a 50-day moving average of $58.42 and a two-hundred day moving average of $52.29. Haynes International has a one year low of $41.15 and a one year high of $60.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.69 and a current ratio of 7.62. The stock has a market cap of $768.59 million, a P/E ratio of 18.45, a P/E/G ratio of 0.72 and a beta of 1.43.

Haynes International (NASDAQ:HAYN) last issued its quarterly earnings results on Friday, February 9th. The basic materials company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.10). Haynes International had a return on equity of 9.89% and a net margin of 6.94%. The firm had revenue of $147.36 million for the quarter, compared to analyst estimates of $151.94 million. During the same period in the prior year, the firm posted $0.61 EPS. As a group, research analysts predict that Haynes International will post 4 EPS for the current year.

Hedge Funds Weigh In On Haynes International

Several institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its holdings in 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 purchasing an additional 508 shares during the period. Captrust Financial Advisors raised its holdings in Haynes International by 77.8% in the 2nd 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 period. Covestor Ltd raised its holdings in Haynes International by 484.2% in the 3rd 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 period. BNP Paribas Arbitrage SNC raised its holdings in Haynes International by 11.1% in the 3rd 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 period. Finally, MetLife Investment Management LLC raised its holdings in Haynes International by 6.0% in the 1st 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 period. Institutional investors and hedge funds own 97.31% of the company’s stock.

About Haynes International

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.