Insider Selling: Hayward (NYSE:HAYW) SVP Sells $31,000.00 in Stock

Hayward Holdings, Inc. (NYSE:HAYW) SVP Susan Canning sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $15.50, for a total transaction of $31,000.00. Following the completion of the transaction, the senior vice president directly owned 162,411 shares in the company, valued at $2,517,370.50. This represents a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hayward Stock Up 2.8%

Hayward stock opened at $16.96 on Thursday. The firm has a market capitalization of $3.54 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.41 and a beta of 1.13. The company has a 50-day simple moving average of $13.12 and a 200-day simple moving average of $14.58. Hayward Holdings, Inc. has a one year low of $11.24 and a one year high of $17.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.43 and a current ratio of 3.33.

Hayward (NYSE:HAYW) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. Hayward had a return on equity of 11.95% and a net margin of 14.35%. The company had revenue of $260.13 million for the quarter, compared to analysts’ expectations of $251.80 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that Hayward Holdings, Inc. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. KeyCorp reaffirmed a “sector weight” rating on shares of Hayward in a research note on Monday, July 20th. The Goldman Sachs Group raised their price target on shares of Hayward from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, October 28th. Weiss Ratings downgraded shares of Hayward from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. Wolfe Research began coverage on Hayward in a report on Tuesday, September 15th. They issued a “peer perform” rating for the company. Finally, Zacks Research cut Hayward from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.12.

Key Hayward News

Here are the key news stories impacting Hayward this week:

• Positive Sentiment: Hayward’s latest reported quarter showed EPS of $0.18 versus the $0.15 consensus and revenue of $260.1 million versus $251.8 million expected. Revenue grew 6.5% year over year, offering a supportive business-performance signal.
• Negative Sentiment: CEO Kevin Holleran sold 50,000 shares for about $827,500, reducing his direct holdings by 11.08%. SVP Susan Canning also sold 2,500 shares; a separate recent report noted another 2,000-share sale. The transactions were made under pre-arranged Rule 10b5-1 plans, which makes them less direct evidence of executives’ current outlook, but the CEO sale could concern investors. Insider sales report

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Hayward during the second quarter valued at $422,455,000. Reinhart Partners LLC. bought a new stake in Hayward during the third quarter worth about $38,607,000. Bank of America Corp DE bought a new stake in Hayward during the second quarter worth about $33,306,000. Bank of New York Mellon Corp bought a new position in shares of Hayward in the second quarter valued at approximately $28,916,000. Finally, William Blair Investment Management LLC bought a new position in shares of Hayward in the second quarter valued at approximately $26,828,000.

Hayward Company Profile

Hayward Holdings, Inc designs, manufactures and markets equipment and technologies used in residential and commercial swimming pools. Its product portfolio includes pumps, filters, heaters, heat pumps, automatic pool cleaners, lighting, sanitization systems, water features and pool-control and automation solutions.

The company sells products under the Hayward brand and serves pool owners, builders, retailers, distributors and service professionals. Its equipment is used in both new pool construction and the replacement and renovation market, with an emphasis on energy efficiency, water quality and connected pool-management technologies.

Hayward traces its roots to 1925 and has developed into a global pool-equipment supplier.