Haynes International (NASDAQ:HAYN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

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. “

Several other research firms have also recently issued reports on HAYN. BidaskClub upgraded shares of Haynes International from a “strong sell” rating to a “sell” rating in a research note on Friday, August 24th. ValuEngine cut shares of Haynes International from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of Haynes International in a research note on Friday, November 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.00.

NASDAQ HAYN traded down $0.84 on Wednesday, hitting $33.14. The stock had a trading volume of 65,099 shares, compared to its average volume of 78,882. Haynes International has a 52-week low of $28.08 and a 52-week high of $45.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.89 and a quick ratio of 1.50. The stock has a market capitalization of $439.66 million, a PE ratio of -473.43 and a beta of 1.47.

Haynes International (NASDAQ:HAYN) last posted its earnings results on Friday, November 16th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.08. Haynes International had a negative net margin of 5.00% and a negative return on equity of 0.40%. The business had revenue of $122.31 million for the quarter, compared to analysts’ expectations of $118.31 million. On average, research analysts anticipate that Haynes International will post 2.08 EPS for the current year.

Several institutional investors have recently bought and sold shares of HAYN. Piedmont Investment Advisors LLC purchased a new stake in shares of Haynes International during the 2nd quarter valued at $107,000. SG Americas Securities LLC purchased a new stake in shares of Haynes International during the 2nd quarter valued at $179,000. GSA Capital Partners LLP purchased a new stake in shares of Haynes International during the 3rd quarter valued at $235,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Haynes International during the 3rd quarter valued at $265,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Haynes International during the 2nd quarter valued at $269,000. Hedge funds and other institutional investors own 99.14% 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, Asia, and internationally. The company offers high-temperature resistant alloys (HTA) and corrosion-resistant alloys (CRA). Its HTA products are used by manufacturers of equipment, including jet engines for the aerospace market; gas turbine engines for power generation and waste incineration; and industrial heating equipment.

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