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

Shares of Hayward Holdings, Inc. (NYSE:HAYW) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $13.49, but opened at $14.71. Hayward shares last traded at $15.24, with a volume of 1,183,180 shares trading hands.

The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $284.39 million during the quarter, compared to analyst estimates of $282.60 million. Hayward had a net margin of 9.06% and a return on equity of 9.66%. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share.

Analysts Set New Price Targets

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

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in Hayward in the second quarter valued at $30,000. Pacer Advisors Inc. acquired a new stake in Hayward in the fourth quarter valued at $37,000. GAMMA Investing LLC lifted its stake in Hayward by 178.5% in the first quarter. GAMMA Investing LLC now owns 2,674 shares of the company’s stock valued at $41,000 after acquiring an additional 1,714 shares during the last quarter. nVerses Capital LLC acquired a new stake in Hayward in the second quarter valued at $64,000. Finally, Moody National Bank Trust Division acquired a new stake in Hayward in the first quarter valued at $164,000.

Hayward Trading Down 3.1 %

The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 2.48 and a beta of 1.21. The company has a quick ratio of 2.34, a current ratio of 2.59 and a debt-to-equity ratio of 0.71. The business’s 50 day simple moving average is $13.21 and its 200 day simple moving average is $13.58.

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.