Hayward (NYSE:HAYW) Announces Earnings Results, Beats Expectations By $0.01 EPS

Hayward (NYSE:HAYW - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01, Briefing.com reports. The business had revenue of $227.57 million during the quarter, compared to analysts' expectations of $222.88 million. Hayward had a net margin of 9.47% and a return on equity of 9.93%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. Hayward updated its FY 2024 guidance to EPS.

Hayward Trading Down 0.7 %

Shares of HAYW opened at $16.15 on Friday. Hayward has a 1-year low of $10.54 and a 1-year high of $16.85. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 2.73 and a beta of 1.21. The firm's 50-day moving average price is $14.83 and its 200-day moving average price is $14.05. The company has a current ratio of 2.62, a quick ratio of 1.68 and a debt-to-equity ratio of 0.70.

Insiders Place Their Bets

In related news, CEO Kevin Holleran sold 42,857 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.29, for a total value of $612,426.53. Following the sale, the chief executive officer now directly owns 522,799 shares of the company's stock, valued at $7,470,797.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HAYW has been the topic of several recent research reports. Stifel Nicolaus raised their price objective on Hayward from $15.50 to $16.00 and gave the company a "hold" rating in a report on Monday, October 28th. Robert W. Baird increased their price target on shares of Hayward from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday. KeyCorp lifted their price target on shares of Hayward from $17.00 to $18.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, The Goldman Sachs Group upped 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $16.80.

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.