Hayward (NYSE:HAYW) Cut to “Peer Perform” at Wolfe Research

Hayward (NYSE:HAYW) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Thursday,Briefing.com Automated Import reports.

Other research analysts also recently issued research reports about the stock. KeyCorp reaffirmed a “sector weight” rating on shares of Hayward in a research report on Monday, January 6th. Stifel Nicolaus raised Hayward from a “hold” rating to a “buy” rating and set a $16.50 price target for the company in a research report on Wednesday, February 5th. Finally, Robert W. Baird boosted their target price on shares of Hayward from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.13.

Hayward Price Performance

Shares of NYSE HAYW opened at $14.04 on Thursday. The company has a fifty day moving average price of $14.41 and a 200 day moving average price of $15.06. The firm has a market cap of $3.03 billion, a PE ratio of 33.43, a PEG ratio of 1.87 and a beta of 1.16. The company has a current ratio of 2.62, a quick ratio of 1.69 and a debt-to-equity ratio of 0.70. Hayward has a 1-year low of $11.96 and a 1-year high of $16.87.

Hayward (NYSE:HAYW) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Hayward had a return on equity of 9.93% and a net margin of 9.47%. The business had revenue of $327.08 million during the quarter, compared to the consensus estimate of $302.76 million. Research analysts predict that Hayward will post 0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kevin Holleran sold 50,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $14.52, for a total value of $726,000.00. Following the completion of the sale, the chief executive officer now directly owns 522,799 shares in the company, valued at $7,591,041.48. The trade was a 8.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.25% of the company’s stock.

Institutional Investors Weigh In On Hayward

Institutional investors have recently modified their holdings of the business. Kovitz Investment Group Partners LLC boosted its holdings in Hayward by 385.5% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 8,433,106 shares of the company’s stock valued at $128,942,000 after purchasing an additional 6,696,170 shares during the period. Michael & Susan Dell Foundation boosted its stake in shares of Hayward by 247.6% in the fourth quarter. Michael & Susan Dell Foundation now owns 8,984,492 shares of the company’s stock valued at $137,373,000 after buying an additional 6,400,000 shares during the period. BBR Partners LLC acquired a new stake in Hayward during the fourth quarter worth approximately $67,399,000. Fiduciary Management Inc. WI acquired a new stake in Hayward during the fourth quarter worth approximately $62,949,000. Finally, Vanguard Group Inc. increased its stake in Hayward by 22.8% during the 4th quarter. Vanguard Group Inc. now owns 19,305,043 shares of the company’s stock worth $295,174,000 after acquiring an additional 3,589,352 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.