Hayward (NYSE:HAYW) PT Lowered to $16.00

Hayward (NYSE:HAYW – Get Rating) had its price target trimmed by KeyCorp from $19.00 to $16.00 in a report issued on Friday, MarketBeat reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on HAYW. Morgan Stanley reduced their target price on shares of Hayward from $19.00 to $15.00 and set an equal weight rating for the company in a research note on Tuesday, May 31st. The Goldman Sachs Group lowered shares of Hayward from a buy rating to a neutral rating and lowered their price objective for the stock from $20.00 to $13.00 in a report on Friday. Credit Suisse Group initiated coverage on shares of Hayward in a research note on Tuesday, April 5th. They issued an outperform rating and a $21.00 target price on the stock. Robert W. Baird downgraded shares of Hayward from an outperform rating to a neutral rating and set a $16.00 price objective on the stock. in a research report on Thursday, July 14th. Finally, William Blair reaffirmed an outperform rating on shares of Hayward in a research report on Thursday, April 28th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hayward presently has a consensus rating of Hold and an average target price of $19.14.

Hayward Price Performance

HAYW stock opened at $11.52 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.37 and a quick ratio of 1.56. Hayward has a 1 year low of $10.48 and a 1 year high of $28.65. The company has a 50 day simple moving average of $14.47 and a 200 day simple moving average of $16.21. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 10.87 and a beta of 0.36.

Hayward (NYSE:HAYW – Get Rating) last issued its earnings results on Thursday, July 28th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Hayward had a return on equity of 21.59% and a net margin of 16.81%. The company had revenue of $399.40 million for the quarter, compared to the consensus estimate of $416.21 million. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Research analysts anticipate that Hayward will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Hayward news, CFO Eifion Jones sold 140,501 shares of the business’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $13.89, for a total transaction of $1,951,558.89. Following the transaction, the chief financial officer now owns 175,282 shares in the company, valued at $2,434,666.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Hayward news, major shareholder Alberta Investment Management sold 8,480,807 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $13.88, for a total value of $117,713,601.16. Following the completion of the sale, the insider now directly owns 26,910,584 shares in the company, valued at $373,518,905.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eifion Jones sold 140,501 shares of the stock in a transaction on Friday, June 17th. The shares were sold at an average price of $13.89, for a total value of $1,951,558.89. Following the sale, the chief financial officer now owns 175,282 shares of the company’s stock, valued at approximately $2,434,666.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,935,326 shares of company stock valued at $137,999,495. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Signaturefd LLC acquired a new position in shares of Hayward during the 4th quarter worth about $39,000. First Quadrant LLC CA acquired a new stake in Hayward in the first quarter valued at approximately $35,000. SRS Capital Advisors Inc. acquired a new stake in Hayward in the fourth quarter valued at approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Hayward during the fourth quarter valued at $180,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Hayward during the fourth quarter valued at $236,000. Institutional investors own 90.96% of the company’s stock.

Hayward Company Profile

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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 a range of pool equipment, including pumps, filters, robotic, suction and pressure cleaners, heaters, water features and landscape lighting, salt chlorine generators, safety equipment, automatic cleaners, sanitizers, controls, and LED lights, as well as industrial thermoplastic valves and process liquid control products for in-ground residential pools, above ground pools, and commercial pools.

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