Haynes International, Inc. (NASDAQ:HAYN) Receives $28.00 Consensus Price Target from Analysts

Shares of Haynes International, Inc. (NASDAQ:HAYN) have been assigned an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $28.00.

Several brokerages have recently weighed in on HAYN. Zacks Investment Research cut shares of Haynes International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Sidoti began coverage on shares of Haynes International in a research note on Wednesday, June 17th. They set a “buy” rating for the company. Finally, TheStreet cut shares of Haynes International from a “c” rating to a “d+” rating in a research note on Thursday, August 6th.

HAYN stock opened at $17.34 on Friday. The company’s 50 day simple moving average is $19.46 and its 200-day simple moving average is $21.16. The firm has a market capitalization of $217.74 million, a PE ratio of 42.29 and a beta of 1.33. Haynes International has a 12 month low of $17.16 and a 12 month high of $39.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.23 and a quick ratio of 1.69.

Haynes International (NASDAQ:HAYN) last released its quarterly earnings results on Friday, July 31st. The basic materials company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.35). The business had revenue of $80.58 million during the quarter. Haynes International had a net margin of 1.23% and a return on equity of 1.76%. As a group, sell-side analysts anticipate that Haynes International will post -0.76 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 5.07%. The ex-dividend date was Monday, August 31st. Haynes International’s payout ratio is presently 112.82%.

In related news, CEO Michael L. Shor acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was bought at an average price of $19.49 per share, with a total value of $38,980.00. Following the acquisition, the chief executive officer now owns 39,316 shares in the company, valued at approximately $766,268.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.12% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Haynes International by 82.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the basic materials company’s stock valued at $26,000 after buying an additional 522 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Haynes International by 167.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,992 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 1,247 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Haynes International by 70.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,264 shares of the basic materials company’s stock valued at $108,000 after buying an additional 2,169 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Haynes International during the 2nd quarter valued at approximately $159,000. Finally, Royal Bank of Canada raised its position in shares of Haynes International by 92.9% during the 1st quarter. Royal Bank of Canada now owns 8,122 shares of the basic materials company’s stock valued at $167,000 after buying an additional 3,911 shares during the period. 96.38% of the stock is owned by institutional investors.

About Haynes International

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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