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

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

HAYN has been the topic of several other research reports. Northcoast Research restated a “neutral” rating on shares of Haynes International in a research report on Thursday, March 14th. Noble Financial downgraded shares of Haynes International from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 6th.

Haynes International Stock Performance

Shares of NASDAQ HAYN opened at $60.35 on Friday. The stock has a market cap of $771.27 million, a price-to-earnings ratio of 18.51, a PEG ratio of 0.75 and a beta of 1.43. Haynes International has a 12 month low of $41.15 and a 12 month high of $60.86. The company has a 50 day simple moving average of $59.90 and a two-hundred day simple moving average of $53.72. The company has a current ratio of 7.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.26.

Haynes International (NASDAQ:HAYN) last announced its quarterly earnings results on Friday, February 9th. The basic materials company reported $0.60 earnings per share 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 period in the prior year, the business posted $0.61 earnings per share. As a group, analysts predict that Haynes International will post 3.83 earnings per share for the current year.

Institutional Investors Weigh In On Haynes International

Several institutional investors and hedge funds have recently added to or reduced their stakes in HAYN. JPMorgan Chase & Co. grew its position in shares of Haynes International by 5.0% in the first quarter. JPMorgan Chase & Co. now owns 29,449 shares of the basic materials company’s stock valued at $1,255,000 after purchasing an additional 1,412 shares in the last quarter. US Bancorp DE grew its stake in shares of Haynes International by 188.8% in the 1st quarter. US Bancorp DE now owns 777 shares of the basic materials company’s stock valued at $33,000 after buying an additional 508 shares during the period. Citigroup Inc. increased its holdings in shares of Haynes International by 9.1% during the 1st quarter. Citigroup Inc. now owns 10,391 shares of the basic materials company’s stock worth $443,000 after buying an additional 865 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Haynes International by 6.0% during the 1st quarter. MetLife Investment Management LLC now owns 5,871 shares of the basic materials company’s stock valued at $250,000 after buying an additional 334 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Haynes International by 12.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,737 shares of the basic materials company’s stock valued at $457,000 after acquiring an additional 1,147 shares during the last quarter. Institutional investors and hedge funds 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.