Hayward (NYSE:HAYW) Shares Gap Up on Earnings Beat

Hayward Holdings, Inc. (NYSE:HAYW)’s share price gapped up prior to trading 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 changing hands.

The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. Hayward had a net margin of 9.47% and a return on equity of 9.93%. The firm had revenue of $327.08 million for the quarter, compared to analyst estimates of $302.76 million.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HAYW shares. Stifel Nicolaus upgraded Hayward from a “hold” rating to a “buy” rating and set a $16.50 price objective on the stock in a report on Wednesday, February 5th. Robert W. Baird lifted their target price on Hayward from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Friday. Finally, KeyCorp reissued a “sector weight” rating on shares of Hayward in a research report on Monday, January 6th.

Insider Transactions at Hayward

In other Hayward news, CEO Kevin Holleran sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $14.52, for a total transaction of $726,000.00. Following the completion of the transaction, the chief executive officer now owns 522,799 shares in the company, valued at $7,591,041.48. The trade was a 8.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.25% of the company’s stock.

Institutional Investors Weigh In On Hayward

Several institutional investors have recently modified their holdings of HAYW. Blue Trust Inc. increased its holdings in Hayward by 2,710.1% in the third quarter. Blue Trust Inc. now owns 2,220 shares of the company’s stock valued at $34,000 after buying an additional 2,141 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Hayward in the 3rd quarter valued at about $43,000. True Wealth Design LLC acquired a new stake in shares of Hayward during the 3rd quarter worth about $44,000. Harbor Investment Advisory LLC lifted its stake in Hayward by 98.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 5,099 shares of the company’s stock worth $78,000 after purchasing an additional 2,524 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Hayward by 56.2% in the fourth 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 Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.62 and a quick ratio of 1.69. The company’s 50 day simple moving average is $14.79 and its 200 day simple moving average is $15.07. The company has a market capitalization of $3.12 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.16.

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.