Haynes International (NASDAQ:HAYN) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Haynes International (NASDAQ:HAYN) from a hold rating to a sell rating in a research note published on Friday morning, Zacks.com reports.

According to Zacks, “Haynes International, Inc. is a technology-oriented company devoted primarily to the development and manufacture of high-performance nickel- and cobalt-based alloys for service in severe corrosion and high-temperature applications. Superior customer service and technical support are provided worldwide by well-trained professionals within the company. Haynes’ service centers and affiliates have available in-stock sheet, plate, bar, wire, tubing, forging stock, fittings, and flanges. “

HAYN has been the subject of a number of other reports. ValuEngine downgraded Haynes International from a hold rating to a sell rating in a research report on Thursday, August 1st. BidaskClub downgraded Haynes International from a hold rating to a sell rating in a research report on Friday, July 12th.

Shares of HAYN opened at $29.33 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 5.56. Haynes International has a 1 year low of $24.46 and a 1 year high of $40.05. The firm’s 50 day moving average is $30.67. The stock has a market cap of $374.40 million, a price-to-earnings ratio of -419.00 and a beta of 1.67.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.09). The firm had revenue of $126.03 million for the quarter, compared to the consensus estimate of $130.14 million. Haynes International had a net margin of 1.21% and a return on equity of 2.06%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 earnings per share. As a group, equities research analysts expect that Haynes International will post 0.6 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.00%. Haynes International’s dividend payout ratio is currently -1,257.14%.

Several hedge funds and other institutional investors have recently bought and sold shares of HAYN. Quantamental Technologies LLC boosted its position in shares of Haynes International by 64.9% during the 2nd quarter. Quantamental Technologies LLC now owns 978 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 385 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Haynes International in the fourth quarter worth $93,000. BNP Paribas Arbitrage SA lifted its position in Haynes International by 882.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,887 shares of the basic materials company’s stock worth $95,000 after buying an additional 2,593 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Haynes International by 351.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,966 shares of the basic materials company’s stock worth $105,000 after buying an additional 3,088 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Haynes International in the first quarter worth $160,000. Hedge funds and other institutional investors own 97.85% of the company’s stock.

Haynes International Company Profile

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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