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

Hayward (NYSE:HAYW) announced its quarterly earnings results on Tuesday. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02, Briefing.com reports. 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 quarter in the previous year, the company posted $0.08 earnings per share. The company’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 Stock Up 1.2 %

Shares of Hayward stock traded up $0.19 on Friday, hitting $16.45. 496,418 shares of the company traded hands, compared to its average volume of 1,462,834. 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 has a 12-month low of $10.54 and a 12-month high of $16.85. The company has a 50-day moving average price of $14.81 and a 200 day moving average price of $14.04. The company has a market cap of $3.54 billion, a PE ratio of 38.70, a PEG ratio of 2.73 and a beta of 1.21.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price target on Hayward from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday. Stifel Nicolaus lifted 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. Robert W. Baird increased their target price on shares of Hayward from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, 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 report on Wednesday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Hayward has an average rating of “Hold” and an average target price of $16.80.

Insiders Place Their Bets

In related news, CEO Kevin Holleran sold 42,857 shares of the stock in a transaction that occurred on 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 approximately $7,125,750.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.25% of the company’s stock.

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.