Stifel Nicolaus Upgrades Hayward (NYSE:HAYW) to "Buy"

Hayward (NYSE:HAYW - Get Free Report) was upgraded by equities research analysts at Stifel Nicolaus from a "hold" rating to a "buy" rating in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $16.50 target price on the stock. Stifel Nicolaus' price objective suggests a potential upside of 16.57% from the stock's current price.

A number of other brokerages also recently commented on HAYW. Robert W. Baird raised their price objective on Hayward from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of Hayward from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, KeyCorp reissued a "sector weight" rating on shares of Hayward in a research report on Monday, January 6th.

Hayward Stock Performance

Shares of Hayward stock traded down $0.54 during midday trading on Wednesday, hitting $14.16. The company had a trading volume of 1,531,908 shares, compared to its average volume of 1,402,236. Hayward has a 1-year low of $11.96 and a 1-year high of $16.87. The business's 50 day simple moving average is $15.26 and its two-hundred day simple moving average is $15.01. The stock has a market cap of $3.05 billion, a PE ratio of 33.70, a P/E/G ratio of 1.90 and a beta of 1.16. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.62 and a quick ratio of 1.69.

Insider Activity

In other news, CEO Kevin Holleran sold 50,000 shares of Hayward stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $14.52, for a total transaction of $726,000.00. Following the transaction, the chief executive officer now owns 522,799 shares in the company, valued at $7,591,041.48. The trade was a 8.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Hayward

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC grew its stake in Hayward by 2.2% in the third quarter. WCM Investment Management LLC now owns 2,041,398 shares of the company's stock valued at $31,152,000 after purchasing an additional 43,222 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Hayward by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,232,773 shares of the company's stock valued at $34,260,000 after purchasing an additional 165,369 shares during the last quarter. State Street Corp boosted its position in Hayward by 8.5% during the third quarter. State Street Corp now owns 4,355,277 shares of the company's stock worth $66,810,000 after purchasing an additional 341,424 shares during the period. Principal Financial Group Inc. raised its position in shares of Hayward by 7.2% in the third quarter. Principal Financial Group Inc. now owns 668,396 shares of the company's stock valued at $10,253,000 after purchasing an additional 44,978 shares during the period. Finally, MSD Capital L P bought a new stake in shares of Hayward during the 3rd quarter worth about $418,901,000.

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.