Hayward (NYSE:HAYW) Price Target Raised to $16.00

Hayward (NYSE:HAYW) had its price objective hoisted by The Goldman Sachs Group from $14.00 to $16.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus upped their price target on shares of Hayward from $15.50 to $16.00 and gave the company a “hold” rating in a report on Monday, October 28th. KeyCorp upped their price objective on shares of Hayward from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Robert W. Baird upped their price objective on shares of Hayward from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Hayward presently has an average rating of “Hold” and a consensus target price of $16.80.

Hayward Stock Performance

HAYW stock opened at $16.15 on Wednesday. The company has a market capitalization of $3.48 billion, a P/E ratio of 38.44, a PEG ratio of 2.73 and a beta of 1.21. The company has a 50-day simple moving average of $14.83 and a 200 day simple moving average of $14.05. Hayward has a fifty-two week low of $10.54 and a fifty-two week high of $16.85. The company has a quick ratio of 1.68, a current ratio of 2.62 and a debt-to-equity ratio of 0.70.

Hayward (NYSE:HAYW) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Hayward had a net margin of 9.47% and a return on equity of 9.93%. The company had revenue of $227.57 million during the quarter, compared to the consensus estimate of $222.88 million. During the same period in the prior year, the company earned $0.08 EPS. Hayward’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts predict that Hayward will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Kevin Holleran sold 42,857 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $13.63, for a total value of $584,140.91. Following the transaction, the chief executive officer now owns 522,799 shares in the company, valued at $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 is available at this link. 3.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hayward

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Hayward by 8.6% in the fourth quarter. Vanguard Group Inc. now owns 14,703,702 shares of the company’s stock worth $199,970,000 after buying an additional 1,166,717 shares during the last quarter. American Century Companies Inc. increased its holdings in Hayward by 13.6% in the second quarter. American Century Companies Inc. now owns 4,671,932 shares of the company’s stock worth $57,465,000 after buying an additional 558,227 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Hayward by 12.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,267,404 shares of the company’s stock worth $52,489,000 after buying an additional 469,124 shares during the last quarter. Jane Street Group LLC increased its holdings in Hayward by 241.0% in the first quarter. Jane Street Group LLC now owns 608,218 shares of the company’s stock worth $9,312,000 after buying an additional 429,851 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Hayward by 4.6% in the second quarter. Victory Capital Management Inc. now owns 5,090,726 shares of the company’s stock worth $62,616,000 after buying an additional 222,311 shares during the last quarter.

Hayward Company Profile

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.