Hayward (NYSE:HAYW) Shares Up 4.5% After Better-Than-Expected Earnings

Hayward Holdings, Inc. (NYSE:HAYW - Get Free Report)'s share price was up 4.5% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $16.41 and last traded at $16.38. Approximately 147,446 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,429,107 shares. The stock had previously closed at $15.67.

The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Hayward had a net margin of 9.06% and a return on equity of 9.66%. The company had revenue of $227.57 million for the quarter, compared to analyst estimates of $222.88 million. During the same period in the previous year, the firm posted $0.08 EPS. The firm's revenue was up 3.3% on a year-over-year basis.

Analysts Set New Price Targets

HAYW has been the subject of several research reports. Robert W. Baird increased their target price on Hayward from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday. KeyCorp upped their price target on shares of Hayward from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Hayward from $15.50 to $16.00 and gave the stock a "hold" rating in a research note on Monday. Finally, The Goldman Sachs Group raised their target price on Hayward from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $16.80.

Insiders Place Their Bets

In related news, CEO Kevin Holleran sold 42,857 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.29, for a total transaction of $612,426.53. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.25% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in Hayward in the second quarter worth $30,000. Blue Trust Inc. grew its position in shares of Hayward by 2,710.1% during the 3rd quarter. Blue Trust Inc. now owns 2,220 shares of the company's stock valued at $34,000 after acquiring an additional 2,141 shares during the period. nVerses Capital LLC purchased a new stake in shares of Hayward during the 2nd quarter worth approximately $64,000. Quest Partners LLC raised its holdings in shares of Hayward by 217.7% in the 2nd quarter. Quest Partners LLC now owns 7,910 shares of the company's stock worth $97,000 after purchasing an additional 5,420 shares during the period. Finally, MQS Management LLC bought a new position in Hayward during the second quarter valued at $171,000.

Hayward Stock Up 5.6 %

The company has a quick ratio of 1.68, a current ratio of 2.59 and a debt-to-equity ratio of 0.71. The stock has a 50-day simple moving average of $14.73 and a 200-day simple moving average of $14.00. The firm has a market capitalization of $3.56 billion, a PE ratio of 41.75, a P/E/G ratio of 2.50 and a beta of 1.21.

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.