The stock of Haynes International, Inc. (NASDAQ:HAYN) hit a new 52-week high and has $47.61 target or 9.00% above today’s $43.68 share price. The 8 months bullish chart indicates low risk for the $530.74 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $47.61 price target is reached, the company will be worth $47.77 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 29,032 shares traded hands. Haynes International, Inc. (NASDAQ:HAYN) has risen 19.60% since April 25, 2016 and is uptrending. It has outperformed by 13.59% the S&P500.
Analysts await Haynes International, Inc. (NASDAQ:HAYN) to report earnings on February, 2. They expect $0.31 earnings per share, up 1,450.00% or $0.29 from last year’s $0.02 per share. HAYN’s profit will be $3.77 million for 35.23 P/E if the $0.31 EPS becomes a reality. After $0.08 actual earnings per share reported by Haynes International, Inc. for the previous quarter, Wall Street now forecasts 287.50% EPS growth.
Haynes International, Inc. (NASDAQ:HAYN) Ratings Coverage
Out of 3 analysts covering Haynes International (NASDAQ:HAYN), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. $49 is the highest target while $46 is the lowest. The $47 average target is 7.60% above today’s ($43.68) stock price. Haynes International has been the topic of 7 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The stock of Haynes International, Inc. (NASDAQ:HAYN) earned “Neutral” rating by JP Morgan on Wednesday, November 16. The rating was downgraded by Rosenblatt to “Neutral” on Monday, August 29. The company was downgraded on Wednesday, August 12 by Zacks. The rating was downgraded by Zacks on Friday, August 14 to “Hold”. Singular Research initiated Haynes International, Inc. (NASDAQ:HAYN) on Tuesday, September 29 with “Buy” rating.
According to Zacks Investment Research, “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.”
More news for Haynes International, Inc. (NASDAQ:HAYN) were recently published by: Marketwatch.com, which released: “Plus the latest data from Realtor.com on 21 home markets across the US” on December 21, 2009. Globenewswire.com‘s article titled: “Haynes International, Inc. Reports Third Quarter Fiscal 2016 Financial Results” and published on August 04, 2016 is yet another important article.
HAYN Company Profile
Haynes International, Inc. (Haynes), incorporated on December 1, 1986, is a producer of nickel- and cobalt alloys in flat product forms, such as sheet, coil and plate forms. The Firm operates through the segment of design, manufacture, marketing and distribution of technologically advanced, high-performance alloys for use in the aerospace, land gas turbine, chemical processing and other industries. The Company’s products consist of high temperature resistant alloy (HTA) products and corrosion resistant alloy (CRA) products. HTA products are used by manufacturers of equipment that is subjected to high temperatures, such as jet engines for the aerospace market, gas turbine engines used for power generation and waste incineration, and industrial heating equipment. CRA products are used in applications that require resistance to corrosive media found in chemical processing, power plant emissions control and hazardous waste treatment. The Firm also produces its products as welded tubulars, and in slab, bar, billet and wire forms.
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