Hayward (NYSE:HAYW) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Hayward (NYSE:HAYW) released its quarterly earnings data on Tuesday. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02, Briefing.com reports. Hayward had a return on equity of 9.66% and a net margin of 9.06%. 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 company posted $0.08 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Hayward updated its FY 2024 guidance to EPS.

Hayward Price Performance

NYSE HAYW traded up $1.14 during trading on Wednesday, reaching $16.81. The company’s stock had a trading volume of 3,691,465 shares, compared to its average volume of 1,444,202. The stock has a market capitalization of $3.62 billion, a PE ratio of 41.75, a P/E/G ratio of 2.50 and a beta of 1.21. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.59 and a quick ratio of 1.68. The firm has a fifty day moving average of $14.73 and a 200 day moving average of $14.00. Hayward has a one year low of $9.80 and a one year high of $16.85.

Insiders Place Their Bets

In other news, CEO Kevin Holleran sold 42,857 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $13.63, for a total transaction of $584,140.91. Following the transaction, the chief executive officer now directly owns 522,799 shares in the company, valued at approximately $7,125,750.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.25% of the company’s stock.

Analyst Upgrades and Downgrades

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