Morgan Stanley Lowers Hayward (NYSE:HAYW) Price Target to $12.00

Hayward (NYSE:HAYWGet Rating) had its price target trimmed by Morgan Stanley from $15.00 to $12.00 in a research note published on Friday morning, Marketbeat reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities analysts have also commented on the stock. Credit Suisse Group started coverage on shares of Hayward in a research report on Tuesday, April 5th. They issued an outperform rating and a $21.00 price objective for the company. The Goldman Sachs Group downgraded shares of Hayward from a buy rating to a neutral rating and decreased their price target for the stock from $20.00 to $13.00 in a research note on Friday. William Blair reaffirmed an outperform rating on shares of Hayward in a research note on Thursday, April 28th. Robert W. Baird downgraded shares of Hayward from an outperform rating to a neutral rating and set a $16.00 target price on the stock. in a research note on Thursday, July 14th. Finally, KeyCorp reduced their price objective on shares of Hayward from $19.00 to $16.00 and set an overweight rating on the stock in a research report on Friday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $19.14.

Hayward Trading Down 1.3 %

NYSE:HAYW opened at $11.52 on Friday. The firm has a market cap of $2.61 billion, a P/E ratio of 10.87 and a beta of 0.36. Hayward has a 52 week low of $10.48 and a 52 week high of $28.65. The firm’s fifty day moving average is $14.47 and its 200-day moving average is $16.21. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 2.37.

Hayward (NYSE:HAYWGet Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). The business had revenue of $399.40 million during the quarter, compared to the consensus estimate of $416.21 million. Hayward had a net margin of 16.81% and a return on equity of 21.59%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $0.30 earnings per share. Equities analysts expect that Hayward will post 1.23 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Hayward

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Quadrant LLC CA purchased a new position in Hayward in the 1st quarter valued at $35,000. Signaturefd LLC purchased a new position in shares of Hayward during the 4th quarter worth approximately $39,000. SRS Capital Advisors Inc. purchased a new position in shares of Hayward during the 4th quarter worth approximately $117,000. Park Avenue Securities LLC acquired a new position in shares of Hayward in the second quarter worth $151,000. Finally, Oak Thistle LLC acquired a new position in Hayward during the 1st quarter worth $175,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Hayward Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for Hayward (NYSE:HAYW)

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