Hayward (NYSE:HAYW) Issues Earnings Results

Hayward (NYSE:HAYW) announced its quarterly earnings data on Tuesday. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01, Briefing.com reports. Hayward had a net margin of 8.25% and a return on equity of 9.46%. The business had revenue of $284.39 million during the quarter, compared to analyst estimates of $282.60 million. During the same period last year, the firm posted $0.19 EPS. The company’s revenue was up .3% on a year-over-year basis. Hayward updated its FY 2024 guidance to EPS.

Hayward Price Performance

Shares of HAYW stock traded up $0.03 on Wednesday, reaching $14.79. The company’s stock had a trading volume of 3,503,868 shares, compared to its average volume of 1,368,010. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 41.08, a price-to-earnings-growth ratio of 2.26 and a beta of 1.21. The stock’s fifty day simple moving average is $13.21 and its 200-day simple moving average is $13.57. Hayward has a 1 year low of $9.80 and a 1 year high of $16.04. The company has a current ratio of 3.37, a quick ratio of 2.34 and a debt-to-equity ratio of 0.82.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HAYW. Robert W. Baird increased their price objective on shares of Hayward from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday. The Goldman Sachs Group cut their price objective on shares of Hayward from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. KeyCorp cut their price objective on shares of Hayward from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Finally, Stifel Nicolaus raised their target price on shares of Hayward from $14.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Hayward presently has a consensus rating of “Hold” and a consensus price target of $15.17.

Insider Buying and Selling

In related news, CEO Kevin Holleran sold 42,857 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $13.96, for a total value of $598,283.72. Following the completion of the sale, the chief executive officer now directly owns 522,799 shares in the company, valued at $7,298,274.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Kevin Holleran sold 42,857 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $13.96, for a total value of $598,283.72. Following the completion of the sale, the chief executive officer now directly owns 522,799 shares in the company, valued at $7,298,274.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Susan M. Canning sold 5,028 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $14.00, for a total value of $70,392.00. Following the completion of the sale, the senior vice president now owns 67,904 shares of the company’s stock, valued at $950,656. The disclosure for this sale can be found here. Insiders sold a total of 133,599 shares of company stock worth $1,803,958 over the last three months. 3.25% of the stock is owned by insiders.

About Hayward

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.