Hayward (NYSE:HAYW) Rating Lowered to "Peer Perform" at Wolfe Research

Wolfe Research cut shares of Hayward (NYSE:HAYW - Free Report) from an outperform rating to a peer perform rating in a research report sent to investors on Thursday morning, MarketBeat reports.

A number of other equities research analysts have also weighed in on the company. Robert W. Baird lifted their price objective on Hayward from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Friday, February 28th. Stifel Nicolaus upgraded Hayward from a "hold" rating to a "buy" rating and set a $16.50 price target on the stock in a research note on Wednesday, February 5th. Finally, KeyCorp reissued a "sector weight" rating on shares of Hayward in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $17.13.

Hayward Stock Performance

HAYW traded down $0.02 on Thursday, hitting $11.71. 1,077,601 shares of the company traded hands, compared to its average volume of 1,862,880. Hayward has a 12-month low of $11.43 and a 12-month high of $16.87. The company has a 50 day moving average of $14.23 and a 200-day moving average of $15.02. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $2.53 billion, a PE ratio of 27.86, a PEG ratio of 1.87 and a beta of 1.14.

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Hayward (NYSE:HAYW - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $327.08 million during the quarter, compared to the consensus estimate of $302.76 million. Hayward had a return on equity of 9.93% and a net margin of 9.47%. Sell-side analysts anticipate that Hayward will post 0.6 earnings per share for the current year.

Insider Transactions at Hayward

In other Hayward news, CEO Kevin Holleran sold 50,000 shares of Hayward stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $12.52, for a total transaction of $626,000.00. Following the completion of the transaction, the chief executive officer now owns 623,540 shares in the company, valued at approximately $7,806,720.80. The trade was a 7.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.25% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HAYW. Blue Trust Inc. increased its position in Hayward by 30.2% during the fourth quarter. Blue Trust Inc. now owns 2,891 shares of the company's stock worth $44,000 after buying an additional 671 shares in the last quarter. Corient Private Wealth LLC increased its position in Hayward by 6.9% during the 4th quarter. Corient Private Wealth LLC now owns 12,228 shares of the company's stock worth $187,000 after purchasing an additional 787 shares in the last quarter. CIBC Asset Management Inc raised its stake in Hayward by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 16,236 shares of the company's stock valued at $248,000 after purchasing an additional 824 shares during the last quarter. Choreo LLC lifted its holdings in Hayward by 3.9% in the 4th quarter. Choreo LLC now owns 29,741 shares of the company's stock valued at $454,000 after purchasing an additional 1,107 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of Hayward by 11.2% during the 4th quarter. Xponance Inc. now owns 13,151 shares of the company's stock worth $201,000 after purchasing an additional 1,325 shares during the last quarter.

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, as well as LED illumination solutions.