Auriga Reiterates a 'Buy' on Haynes International (HAYN); F1Q12 Shortfall Driven by Production Delays, F2Q12 Remains on Track

Auriga reiterates a 'Buy' on Haynes International (NASDAQ: HAYN) price target raised to $83.

Auriga analyst says, "Haynes International reported fiscal 1Q12 EPS results of $0.68 versus our estimate of $0.80 and consensus of $0.79. The shortfall was largely due to planned maintenance/upgrade production outages taking longer than anticipated. Existing fiscal 2Q12 guidance remains intact and most of the 1Q12 shortfall is expected to be recouped in the current quarter. We are maintaining our fiscal 2012 and 2013 EPS estimates of $4.05 and $5.25. We are also initiating a fiscal 2014 EPS estimate of $6.25 and consequently increasing our price target."

For an analyst ratings summary and ratings history on Haynes International click here. For more ratings news on Haynes International click here.

Shares of Haynes International closed at $64.95 yesterday.

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