Haynes International, Inc. (NASDAQ:HAYN)‘s stock had its “neutral” rating reaffirmed by analysts at J P Morgan Chase & Co in a research note issued to investors on Saturday, July 22nd. They currently have a $26.00 target price on the basic materials company’s stock, down from their previous target price of $33.50. J P Morgan Chase & Co’s price target suggests a potential downside of 13.10% from the company’s current price.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Haynes International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Longbow Research raised Haynes International from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.33.
Haynes International (NASDAQ HAYN) traded down 0.83% during trading on Friday, reaching $29.87. The company had a trading volume of 63,611 shares. Haynes International has a 52-week low of $29.75 and a 52-week high of $48.37. The company’s market capitalization is $370.39 million. The company has a 50 day moving average price of $33.68 and a 200 day moving average price of $37.35.
Haynes International (NASDAQ:HAYN) last announced its earnings results on Thursday, August 3rd. The basic materials company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by $0.02. Haynes International had a negative net margin of 4.05% and a negative return on equity of 5.19%. The firm had revenue of $97.98 million during the quarter, compared to analyst estimates of $97.54 million. During the same period in the prior year, the business posted $0.22 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities analysts forecast that Haynes International will post ($0.29) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Haynes International during the fourth quarter valued at $14,499,000. Boston Partners bought a new position in Haynes International during the second quarter valued at $4,434,000. Royce & Associates LP raised its position in Haynes International by 9.9% in the first quarter. Royce & Associates LP now owns 1,066,599 shares of the basic materials company’s stock valued at $40,659,000 after buying an additional 96,226 shares during the period. Dimensional Fund Advisors LP raised its position in Haynes International by 13.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 776,849 shares of the basic materials company’s stock valued at $33,397,000 after buying an additional 89,714 shares during the period. Finally, Vanguard Group Inc. raised its position in Haynes International by 6.4% in the first quarter. Vanguard Group Inc. now owns 1,180,900 shares of the basic materials company’s stock valued at $45,016,000 after buying an additional 70,804 shares during the period. 98.41% of the stock is currently owned by hedge funds and other institutional investors.
About Haynes International
Haynes International, Inc (Haynes) is a producer of nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company also produces its products as seamless and welded tubulars, and in slab, bar, billet and wire forms. It focuses on developing, manufacturing, marketing and distributing alloys, which are sold in the aerospace, chemical processing and industrial gas turbine industries.
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