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

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

Several other equities analysts have also recently issued reports on 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 restated a “neutral” rating on shares of Haynes International in a research report on Thursday, March 14th.

Haynes International Stock Performance

Shares of HAYN stock opened at $59.58 on Friday. The stock has a market capitalization of $761.43 million, a PE ratio of 18.28, a price-to-earnings-growth ratio of 0.74 and a beta of 1.42. 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 $60.00 and its 200 day moving average price is $55.12. The company has a quick ratio of 1.69, a current ratio of 7.62 and a debt-to-equity ratio of 0.26.

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

Institutional Investors Weigh In On Haynes International

Several institutional investors have recently modified their holdings of HAYN. Foundry Partners LLC increased its holdings in shares of Haynes International by 10.1% during the 3rd quarter. Foundry Partners LLC now owns 102,925 shares of the basic materials company’s stock worth $4,788,000 after buying an additional 9,435 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in Haynes International in the 3rd quarter valued at $1,698,000. Russell Investments Group Ltd. increased its holdings in Haynes International by 352.9% in the 4th quarter. Russell Investments Group Ltd. now owns 27,240 shares of the basic materials company’s stock valued at $1,554,000 after purchasing an additional 21,225 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Haynes International by 2.4% in the 4th 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 purchasing an additional 600 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Haynes International by 67.1% in the 1st quarter. BNP Paribas Financial Markets now owns 6,233 shares of the basic materials company’s stock valued at $375,000 after purchasing an additional 2,504 shares in the last quarter. Hedge funds and other institutional investors 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.