Hayward Holdings, Inc. (NYSE:HAYW – Free Report) – Equities researchers at KeyCorp cut their FY2023 earnings estimates for Hayward in a report released on Tuesday, October 31st. KeyCorp analyst J. Hammond now expects that the company will earn $0.48 per share for the year, down from their previous forecast of $0.54. KeyCorp has a “Overweight” rating and a $16.00 price objective on the stock. The consensus estimate for Hayward’s current full-year earnings is $0.55 per share. KeyCorp also issued estimates for Hayward’s Q4 2023 earnings at $0.14 EPS and FY2024 earnings at $0.67 EPS.
A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Hayward from $16.50 to $15.00 and set a “buy” rating for the company in a research note on Monday, October 30th. The Goldman Sachs Group dropped their target price on shares of Hayward from $13.50 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Morgan Stanley lifted their price target on shares of Hayward from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating and three have 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 price target of $13.57.
Hayward Price Performance
Shares of NYSE HAYW opened at $11.14 on Friday. Hayward has a fifty-two week low of $8.76 and a fifty-two week high of $15.22. The company has a 50 day simple moving average of $13.23 and a two-hundred day simple moving average of $12.70. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 38.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.98 and a current ratio of 3.25.
Hayward (NYSE:HAYW – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Hayward had a net margin of 6.74% and a return on equity of 8.00%. The company had revenue of $283.54 million during the quarter, compared to analyst estimates of $266.69 million. During the same period in the prior year, the business posted $0.34 earnings per share. Hayward’s revenue for the quarter was down 29.0% on a year-over-year basis.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank purchased a new position in Hayward in the second quarter valued at $230,000. MetLife Investment Management LLC boosted its position in Hayward by 56.8% during the second quarter. MetLife Investment Management LLC now owns 2,186 shares of the company’s stock worth $28,000 after acquiring an additional 792 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Hayward during the first quarter worth about $29,000. Advisory Services Network LLC raised its stake in shares of Hayward by 44.7% in the 1st quarter. Advisory Services Network LLC now owns 3,237 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares during the period. Finally, Ensign Peak Advisors Inc raised its stake in shares of Hayward by 918.8% in the 3rd quarter. Ensign Peak Advisors Inc now owns 3,260 shares of the company’s stock valued at $29,000 after acquiring an additional 2,940 shares during the period.
Insider Buying and Selling at Hayward
In other Hayward news, VP Fernando Blasco sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $14.50, for a total value of $145,000.00. Following the completion of the sale, the vice president now directly owns 14,857 shares in the company, valued at $215,426.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 29,250 shares of company stock valued at $420,108 in the last three months. Company insiders own 3.20% of the company’s stock.
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.
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