Haynes International Inc. (HAYN) Trading 3.6% Higher
Shares of Haynes International Inc. (NASDAQ:HAYN) traded up 3.6% during trading on Thursday . The company traded as high as $38.74 and last traded at $38.43, with a volume of 75,721 shares changing hands. The stock had previously closed at $37.09.
A number of analysts have recently commented on the company. Zacks Investment Research lowered Haynes International from a “hold” rating to a “strong sell” rating in a report on Tuesday. Rosenblatt Securities upgraded Haynes International from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $43.67.
The stock has a 50 day moving average of $31.94 and a 200-day moving average of $33.04. The company has a market cap of $501.97 million and a price-to-earnings ratio of 44.11.
Haynes International (NASDAQ:HAYN) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by $0.14. The company earned $102.50 million during the quarter, compared to analyst estimates of $105.53 million. The firm’s revenue for the quarter was down 26.1% compared to the same quarter last year. During the same period last year, the firm earned $0.94 EPS. Equities research analysts expect that Haynes International Inc. will post $0.25 EPS for the current fiscal year.
In other Haynes International news, VP Jean C. Neel purchased 1,000 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was purchased at an average cost of $27.99 per share, for a total transaction of $27,990.00. Following the acquisition, the vice president now owns 9,532 shares in the company, valued at approximately $266,800.68. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Comerford purchased 2,500 shares of the firm’s stock in a transaction on Thursday, May 19th. The shares were acquired at an average price of $26.25 per share, with a total value of $65,625.00. Following the completion of the acquisition, the chief executive officer now owns 48,865 shares in the company, valued at approximately $1,282,706.25. The disclosure for this purchase can be found here.
A number of hedge funds have modified their holdings of HAYN. Dimensional Fund Advisors LP increased its stake in shares of Haynes International by 10.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 553,482 shares of the company’s stock worth $20,308,000 after buying an additional 51,926 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Haynes International by 1.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 118,938 shares of the company’s stock worth $4,364,000 after buying an additional 1,500 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Haynes International by 83.0% in the fourth quarter. First Trust Advisors LP now owns 59,922 shares of the company’s stock worth $2,199,000 after buying an additional 27,186 shares during the last quarter.
Haynes International, Inc produces nickel- and cobalt-based alloys in flat product forms, such as sheet, coil and plate forms. The Company operates through the segment of design, manufacture, marketing and distribution of technologically advanced, high-performance alloys for use in the aerospace, land-based gas turbine, chemical processing and other industries.
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