Haynes International (HAYN) Announces Earnings Results, Meets Expectations
Haynes International (NASDAQ:HAYN) issued its quarterly earnings data on Thursday. The basic materials company reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13), Bloomberg Earnings reports. The business had revenue of $107.07 million for the quarter, compared to analyst estimates of $104.63 million. Haynes International had a negative return on equity of 0.40% and a negative net margin of 5.00%.
Shares of HAYN opened at $32.80 on Friday. The stock has a market cap of $406.82 million, a price-to-earnings ratio of -468.57 and a beta of 1.59. Haynes International has a 12 month low of $24.46 and a 12 month high of $45.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.50 and a current ratio of 5.89.
In related news, insider Michael L. Shor bought 2,000 shares of the business’s stock in a transaction on Thursday, December 6th. The shares were purchased at an average cost of $33.22 per share, with a total value of $66,440.00. Following the acquisition, the insider now owns 28,255 shares of the company’s stock, valued at $938,631.10. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, VP Scott R. Pinkham sold 5,147 shares of Haynes International stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $28.50, for a total value of $146,689.50. Following the transaction, the vice president now directly owns 19,755 shares in the company, valued at $563,017.50. The disclosure for this sale can be found here. 4.56% of the stock is currently owned by insiders.
A number of equities research analysts recently weighed in on HAYN shares. BidaskClub upgraded Haynes International from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 3rd. KeyCorp restated a “hold” rating on shares of Haynes International in a research report on Friday, November 16th. Finally, Zacks Investment Research downgraded Haynes International from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $44.00.
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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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