Haynes International (NASDAQ:HAYN) Share Price Up 6.8% on Analysts’ Upgrade

Haynes International, Inc. (NASDAQ:HAYN – Get Rating) stock price soared 6.8% midday on Friday after KeyCorp raised its price target on the stock from 41.00 $ to $55.00. KeyCorp currently has an overweight rating on the stock. Haynes International traded as high as $45.49 and last traded at $45.49. 292 shares were traded at midday, down 100% from the average session volume of 63,897 shares. The stock had previously closed at $42.60.

HAYN has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Haynes International from a “hold” rating to a “strong-buy” rating and set a price target of $47.00 on the stock in a Thursday, Dec. 23 research note . StockNews.com began covering shares of Haynes International in a research note on Thursday. They have set a “holding” rating on the stock.

Major investors have recently changed their stake in the company. Acuitas Investments LLC increased its stake in shares of Haynes International by 25.8% in the third quarter. Acuitas Investments LLC now owns 91,994 shares of the basic materials company valued at $3,427,000 after buying an additional 18,855 shares last quarter. SG Americas Securities LLC acquired a new equity stake in Haynes International in Q3 valued at $555,000. Strs Ohio acquired a new equity stake in Haynes International in Q3 worth $543,000. Parametric Portfolio Associates LLC increased its stake in shares of Haynes International by 7.9% in Q2. Parametric Portfolio Associates LLC now owns 38,427 shares of the basic materials company valued at $1,360,000 after buying 2,819 additional shares last quarter. Finally, American Century Companies Inc. increased its stake in Haynes International shares by 35.6% in the third quarter. American Century Companies Inc. now owns 18,838 shares of the basic materials company valued at $702,000 after buying 4,949 additional shares last quarter. Institutional investors hold 97.47% of the company’s shares.

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The company has a debt ratio of 0.02, a quick ratio of 1.21 and a current ratio of 5.45. The company’s 50-day moving average price is $39.11 and its 200-day moving average price is $39.73. The company has a market capitalization of $566.58 million, a price-earnings ratio of 137.42 and a beta of 1.35.

Haynes International (NASDAQ:HAYN – Get Rating) last released its quarterly results on Thursday, January 27. The basic materials company reported earnings per share (EPS) of $0.37 for the quarter. Haynes International had a return on equity of 1.26% and a net margin of 1.10%. The company had revenue of $99.43 million in the quarter. During the same period of the previous year, the company made earnings per share ($0.65). As a group, analysts predict that Haynes International, Inc. will post EPS of 2.1 for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15. Investors of record on Tuesday, March 1 received a dividend of $0.22. The ex-dividend date was Monday, February 28. This represents a dividend of $0.88 on an annualized basis and a dividend yield of 1.93%. Haynes International’s dividend payout ratio is 283.88%.

About Haynes International (NASDAQ:HAYN)

Haynes International, Inc. is engaged in the design, manufacture, marketing and distribution of technologically advanced high performance alloys. Its products are sold primarily in the aerospace, chemical processing and industrial gas turbine industries. It operates through the following geographic segments: United States, Europe, China and Others.

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