Haynes International (HAYN) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Haynes International (NASDAQ:HAYN) from a strong sell rating to a hold rating in a research note published on Tuesday.

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 weighed in 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 lowered shares of Haynes International from a buy rating to a hold rating in a research note on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Haynes International has a consensus rating of Hold and a consensus price target of $44.00.

Haynes International stock opened at $31.41 on Tuesday. The stock has a market cap of $395.41 million, a PE ratio of -40.27 and a beta of 1.47. Haynes International has a fifty-two week low of $28.08 and a fifty-two week high of $45.14. The company has a current ratio of 5.89, a quick ratio of 1.47 and a debt-to-equity ratio of 0.03.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Haynes International by 5.5% in the 3rd quarter. BlackRock Inc. now owns 1,827,333 shares of the basic materials company’s stock valued at $64,869,000 after buying an additional 94,812 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Haynes International by 17.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 584,451 shares of the basic materials company’s stock valued at $20,747,000 after buying an additional 88,015 shares during the last quarter. Boston Partners grew its stake in Haynes International by 3.5% in the 2nd quarter. Boston Partners now owns 330,879 shares of the basic materials company’s stock valued at $12,156,000 after buying an additional 11,219 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Haynes International by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 201,069 shares of the basic materials company’s stock valued at $7,138,000 after buying an additional 6,834 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its stake in Haynes International by 20.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 198,497 shares of the basic materials company’s stock valued at $7,293,000 after buying an additional 34,113 shares during the last quarter.

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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