Hayward (NYSE:HAYW) Shares Gap Down – What’s Next?

Hayward Holdings, Inc. (NYSE:HAYW)’s share price gapped down prior to trading on Monday . The stock had previously closed at $15.20, but opened at $14.70. Hayward shares last traded at $14.99, with a volume of 171,519 shares trading hands.

Analysts Set New Price Targets

HAYW has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Hayward from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price target on Hayward from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. KeyCorp reiterated a “sector weight” rating on shares of Hayward in a report on Monday. Finally, Stifel Nicolaus raised their target price on Hayward from $15.50 to $16.00 and gave the company a “hold” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.80.

Hayward Stock Performance

The stock has a 50-day moving average price of $15.87 and a 200 day moving average price of $14.68. 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 firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 34.55, a P/E/G ratio of 2.28 and a beta of 1.17.

Hayward (NYSE:HAYW) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The company 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 firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. On average, analysts forecast that Hayward Holdings, Inc. will post 0.61 EPS for the current year.

Insider Buying and Selling at Hayward

In related news, CEO Kevin Holleran sold 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $15.96, for a total value of $1,596,000.00. Following the transaction, the chief executive officer now directly owns 522,799 shares of the company’s stock, valued at $8,343,872.04. This trade represents a 16.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Eifion Jones sold 75,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $16.11, for a total transaction of $1,208,250.00. Following the completion of the sale, the chief financial officer now directly owns 258,903 shares of the company’s stock, valued at approximately $4,170,927.33. This trade represents a 22.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. MSD Capital L P purchased a new stake in Hayward in the third quarter valued at approximately $418,901,000. Michael & Susan Dell Foundation acquired a new stake in Hayward during the 3rd quarter worth $39,646,000. Wellington Management Group LLP acquired a new position in Hayward in the third quarter valued at $20,391,000. Weiss Asset Management LP grew its holdings in shares of Hayward by 515.0% during the third quarter. Weiss Asset Management LP now owns 1,286,267 shares of the company’s stock worth $19,731,000 after buying an additional 1,077,117 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Hayward by 18.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,637,305 shares of the company’s stock valued at $86,476,000 after acquiring an additional 878,705 shares during the period.

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.