Hayward (NYSE:HAYW) Cut to Hold at Zacks Research

Zacks Research cut shares of Hayward (NYSE:HAYW) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on HAYW. Weiss Ratings reiterated a “hold (c)” rating on shares of Hayward in a report on Monday. Stifel Nicolaus boosted their target price on Hayward from $17.50 to $18.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.00.

Hayward Price Performance

Shares of NYSE:HAYW opened at $15.46 on Monday. The company’s fifty day moving average price is $15.98 and its 200-day moving average price is $15.42. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.65 and a beta of 1.12. Hayward has a one year low of $11.10 and a one year high of $17.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.18 and a quick ratio of 2.31.

Hayward (NYSE:HAYW) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $244.34 million during the quarter, compared to the consensus estimate of $231.46 million. Hayward had a net margin of 12.54% and a return on equity of 11.24%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. On average, equities research analysts anticipate that Hayward will post 0.6 earnings per share for the current fiscal year.

Insider Activity at Hayward

In related news, CEO Kevin Holleran sold 60,571 shares of Hayward stock in a transaction on Friday, December 5th. The shares were sold at an average price of $16.13, for a total value of $977,010.23. Following the transaction, the chief executive officer directly owned 623,540 shares of the company’s stock, valued at $10,057,700.20. The trade was a 8.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Eifion Jones sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $17.50, for a total transaction of $437,500.00. Following the sale, the chief financial officer owned 287,231 shares of the company’s stock, valued at $5,026,542.50. This represents a 8.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 146,142 shares of company stock valued at $2,428,469 in the last quarter. Corporate insiders own 5.06% of the company’s stock.

Institutional Investors Weigh In On Hayward

A number of large investors have recently added to or reduced their stakes in HAYW. CIBC Bancorp USA Inc. bought a new position in shares of Hayward during the third quarter valued at about $37,846,000. Verition Fund Management LLC increased its holdings in Hayward by 60.8% during the 3rd quarter. Verition Fund Management LLC now owns 351,706 shares of the company’s stock valued at $5,318,000 after purchasing an additional 132,981 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Hayward during the 3rd quarter valued at approximately $4,123,000. Polymer Capital Management HK LTD purchased a new stake in Hayward in the 3rd quarter worth approximately $179,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Hayward in the 3rd quarter worth approximately $1,011,000.

About Hayward

Hayward Holdings, Inc is a leading manufacturer and marketer of residential and commercial swimming pool equipment and related outdoor living products. The company designs, engineers and produces a comprehensive range of products that address water circulation, filtration, heating, sanitation, automation, lighting and cleaning needs for pools and spas. Hayward’s offerings include pumps, filters, heaters, salt and chemical sanitization systems, automation controls, lights, robotic cleaners and various accessories that serve both new pool construction and aftermarket renovation markets.

Hayward’s product portfolio is organized into several core categories.