Hayward (NYSE:HAYW) Stock Price Up 4.5% After Better-Than-Expected Earnings

by · The Cerbat Gem

Hayward Holdings, Inc. (NYSE:HAYW – Get Free Report) shares were up 4.5% on Wednesday following a stronger than expected earnings report. The company traded as high as $16.41 and last traded at $16.38. Approximately 147,446 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,429,107 shares. The stock had previously closed at $15.67.

The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $227.57 million during the quarter, compared to analyst estimates of $222.88 million. Hayward had a return on equity of 9.66% and a net margin of 9.06%. Hayward’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.08 EPS.

Analyst Upgrades and Downgrades

HAYW has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price target on Hayward from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Robert W. Baird lifted their price objective on Hayward from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Stifel Nicolaus lifted their price target on Hayward from $15.50 to $16.00 and gave the company a “hold” rating in a research note on Monday. Finally, KeyCorp reduced their price target on shares of Hayward from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Hayward currently has an average rating of “Hold” and a consensus target price of $15.80.

Get Our Latest Research Report on Hayward

Insiders Place Their Bets

In other news, CEO Kevin Holleran sold 42,857 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $14.29, for a total transaction of $612,426.53. Following the completion of the transaction, the chief executive officer now directly owns 522,799 shares of the company’s stock, valued at approximately $7,470,797.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HAYW. Vanguard Group Inc. increased its stake in shares of Hayward by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 14,703,702 shares of the company’s stock valued at $199,970,000 after purchasing an additional 1,166,717 shares during the period. PNC Financial Services Group Inc. raised its position in Hayward by 24.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,691 shares of the company’s stock worth $227,000 after purchasing an additional 3,253 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Hayward by 79.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 43,069 shares of the company’s stock worth $659,000 after acquiring an additional 19,095 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Hayward by 26.5% in the 1st quarter. Diversified Trust Co now owns 52,181 shares of the company’s stock valued at $799,000 after purchasing an additional 10,922 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in Hayward during the 1st quarter worth $181,000.

Hayward Stock Up 4.5 %

The business has a fifty day moving average of $14.73 and a 200 day moving average of $14.00. The firm has a market cap of $3.52 billion, a P/E ratio of 39.19, a P/E/G ratio of 2.50 and a beta of 1.21. The company has a quick ratio of 1.68, a current ratio of 2.59 and a debt-to-equity ratio of 0.71.

Hayward Company Profile

(Get Free Report)

Hayward Holdings, Inc designs, manufactures, and markets a portfolio of pool equipment and associated automation systems in North America, Europe, and internationally. The company offers pool equipment, including pumps, filters, robotics, suction and pressure cleaners, gas heaters and heat pumps, water features and landscape lighting, water sanitizers, salt chlorine generators, safety equipment, and in-floor automated cleaning systems, as well as LED illumination solutions.

See Also