Hayward (NYSE:HAYW) Shares Gap Up Following Strong Earnings

Shares of Hayward Holdings, Inc. (NYSE:HAYW) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $14.38, but opened at $15.62. Hayward shares last traded at $14.78, with a volume of 198,229 shares trading hands.

The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The firm had revenue of $327.08 million during the quarter, compared to analysts’ expectations of $302.76 million. Hayward had a net margin of 9.47% and a return on equity of 9.93%.

Analysts Set New Price Targets

HAYW has been the subject of several recent analyst reports. Stifel Nicolaus upgraded Hayward from a “hold” rating to a “buy” rating and set a $16.50 target price for the company in a research note on Wednesday, February 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Hayward in a report on Monday, January 6th.

Insider Buying and Selling

In other Hayward news, CEO Kevin Holleran sold 50,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $14.52, for a total value of $726,000.00. Following the completion of the sale, the chief executive officer now owns 522,799 shares of the company’s stock, valued at approximately $7,591,041.48. This trade represents a 8.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.25% of the company’s stock.

Hedge Funds Weigh In On Hayward

A number of large investors have recently made changes to their positions in HAYW. Blue Trust Inc. boosted its holdings in Hayward by 2,710.1% during the third quarter. Blue Trust Inc. now owns 2,220 shares of the company’s stock worth $34,000 after buying an additional 2,141 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Hayward during the 3rd quarter worth approximately $43,000. True Wealth Design LLC acquired a new stake in shares of Hayward in the 3rd quarter worth approximately $44,000. Harbor Investment Advisory LLC increased its stake in Hayward by 98.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 5,099 shares of the company’s stock valued at $78,000 after purchasing an additional 2,524 shares in the last quarter. Finally, KBC Group NV increased its stake in Hayward by 56.2% in the 4th quarter. KBC Group NV now owns 6,343 shares of the company’s stock valued at $97,000 after purchasing an additional 2,283 shares in the last quarter.

Hayward Stock Performance

The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 35.18, a PEG ratio of 1.87 and a beta of 1.16. The firm has a fifty day moving average of $14.81 and a 200-day moving average of $15.07.

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.