Hayward (NYSE:HAYW) Reaches New 52-Week High After Strong Earnings

Shares of Hayward Holdings, Inc. (NYSE:HAYW) reached a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $16.31 and last traded at $15.98, with a volume of 66774 shares. The stock had previously closed at $14.80.

The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $227.57 million for the quarter, compared to the consensus estimate of $222.88 million. Hayward had a return on equity of 9.66% and a net margin of 9.06%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of Hayward from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday. The Goldman Sachs Group raised their price objective on Hayward from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday. KeyCorp upped their target price on Hayward from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Stifel Nicolaus raised their price target on Hayward from $15.50 to $16.00 and gave the stock a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.80.

Insider Buying and Selling at Hayward

In related news, CEO Kevin Holleran sold 42,857 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 522,799 shares of the company’s stock, valued at $7,470,797.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.25% of the company’s stock.

Hedge Funds Weigh In On Hayward

Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Hayward by 2.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,642 shares of the company’s stock valued at $352,000 after acquiring an additional 784 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Hayward by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 41,998 shares of the company’s stock valued at $517,000 after acquiring an additional 887 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Hayward by 1.4% during the 1st quarter. Bessemer Group Inc. now owns 81,400 shares of the company’s stock valued at $1,246,000 after acquiring an additional 1,100 shares during the period. Louisiana State Employees Retirement System grew its holdings in Hayward by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 63,800 shares of the company’s stock worth $785,000 after purchasing an additional 1,400 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in Hayward by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 110,346 shares of the company’s stock valued at $1,689,000 after buying an additional 1,443 shares in the last quarter.

Hayward Trading Up 5.9 %

The company has a debt-to-equity ratio of 0.71, a current ratio of 2.59 and a quick ratio of 1.68. The firm has a fifty day simple moving average of $14.77 and a 200-day simple moving average of $14.02. The firm has a market cap of $3.57 billion, a P/E ratio of 41.48, a price-to-earnings-growth ratio of 2.50 and a beta of 1.21.

Hayward Company Profile

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.