Hayward (NYSE:HAYW) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Hayward (NYSE:HAYW – Get Rating) released its earnings results on Thursday. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06, MarketWatch Earnings reports. The business had revenue of $410.46 million for the quarter, compared to the consensus estimate of $379.01 million. Hayward had a return on equity of 20.57% and a net margin of 14.53%. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.38) earnings per share.

Shares of NYSE HAYW opened at $16.61 on Friday. Hayward has a 1 year low of $15.38 and a 1 year high of $28.65. The firm has a market cap of $3.81 billion and a price-to-earnings ratio of -103.81. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.70 and a current ratio of 2.47. The stock’s 50-day simple moving average is $16.94 and its 200-day simple moving average is $20.89.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its position in shares of Hayward by 24.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 26,695 shares of the company’s stock worth $700,000 after acquiring an additional 5,276 shares during the last quarter. Morgan Stanley bought a new stake in Hayward in the first quarter valued at about $577,000. LPL Financial LLC increased its holdings in Hayward by 29.6% in the fourth quarter. LPL Financial LLC now owns 20,285 shares of the company’s stock valued at $532,000 after buying an additional 4,632 shares during the last quarter. Legal & General Group Plc increased its holdings in Hayward by 576.9% in the fourth quarter. Legal & General Group Plc now owns 14,275 shares of the company’s stock valued at $375,000 after buying an additional 12,166 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Hayward in the fourth quarter valued at about $355,000. 54.22% of the stock is currently owned by institutional investors and hedge funds.

HAYW has been the topic of a number of research analyst reports. Bank of America downgraded Hayward from a “buy” rating to a “neutral” rating in a research report on Thursday, January 27th. Credit Suisse Group began coverage on Hayward in a research note on Tuesday, April 5th. They set an “outperform” rating and a $21.00 target price for the company. The Goldman Sachs Group lowered their price objective on Hayward from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, April 13th. KeyCorp reduced their target price on Hayward from $26.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, April 18th. Finally, Morgan Stanley reduced their target price on Hayward from $25.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, March 3rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Hayward has a consensus rating of “Hold” and a consensus target price of $23.33.

About Hayward (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