Hayward (NYSE:HAYW) Stock: Insider Susan Canning Sells 2,500 Shares

Key Points

• SVP Susan Canning sold 2,500 Hayward shares at an average of $16.72, for $41,800, under a pre-arranged Rule 10b5-1 plan. She retained 157,411 shares after the sale.
• Hayward beat quarterly expectations, reporting earnings of $0.18 per share versus $0.15 expected and revenue of $260.13 million versus $251.80 million expected; revenue rose 6.5% year over year.
• Analyst views are mixed, with MarketBeat reporting an overall Hold rating and an average price target of $17.12.

Hayward Holdings, Inc. (NYSE:HAYW - Get Free Report) SVP Susan Canning sold 2,500 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $16.72, for a total value of $41,800.00. Following the transaction, the senior vice president directly owned 157,411 shares in the company, valued at approximately $2,631,911.92. The trade was a 1.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hayward Price Performance

Shares of NYSE:HAYW traded down $0.27 during midday trading on Tuesday, hitting $16.54. 5,176,346 shares of the stock were exchanged, compared to its average volume of 2,698,946. The company has a 50 day moving average price of $13.03 and a 200-day moving average price of $14.58. The company has a current ratio of 3.33, a quick ratio of 2.49 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.45 billion, a P/E ratio of 21.21, a PEG ratio of 1.36 and a beta of 1.18. Hayward Holdings, Inc. has a twelve month low of $11.24 and a twelve month high of $17.42.

Hayward (NYSE:HAYW - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. The business had revenue of $260.13 million during the quarter, compared to the consensus estimate of $251.80 million. Hayward had a net margin of 14.35% and a return on equity of 11.95%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. On average, research analysts forecast that Hayward Holdings, Inc. will post 0.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Zacks Research downgraded Hayward from a "hold" rating to a "strong sell" rating in a report on Monday, October 19th. The Goldman Sachs Group upped their price target on Hayward from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, October 28th. Wolfe Research assumed coverage on Hayward in a research note on Tuesday, September 15th. They issued a "peer perform" rating on the stock. Cantor Fitzgerald reissued a "neutral" rating on shares of Hayward in a research report on Monday, July 6th. Finally, Weiss Ratings lowered Hayward from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Hayward currently has an average rating of "Hold" and an average target price of $17.12.

Hayward News Roundup

Here are the key news stories impacting Hayward this week:

• Positive Sentiment: Hayward’s latest reported quarter beat expectations: earnings were $0.18 per share versus the $0.15 consensus, and revenue of $260.13 million topped estimates of $251.80 million. Revenue grew 6.5% year over year. Hayward stock information
• Negative Sentiment: CEO Kevin Holleran sold 50,000 shares for $827,500, reducing his holdings by 11.08% to 401,234 shares. SVP Susan Canning also reported multiple recent sales, including 2,500 shares on November 2. Insider selling can concern investors, though both executives’ transactions were conducted under pre-arranged Rule 10b5-1 plans. CEO SEC filing SVP SEC filing

Institutional Trading of Hayward

Large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Hayward during the 2nd quarter worth approximately $422,455,000. Reinhart Partners LLC. acquired a new position in shares of Hayward during the 3rd quarter worth $38,607,000. Bank of America Corp DE acquired a new position in Hayward during the 2nd quarter valued at $33,306,000. Bank of New York Mellon Corp bought a new stake in shares of Hayward during the second quarter valued at approximately $28,916,000. Finally, William Blair Investment Management LLC bought a new stake in Hayward during the second quarter worth about $26,828,000.

Hayward Company Profile

Hayward Holdings, Inc designs, manufactures and markets equipment and technologies used in residential and commercial swimming pools. Its product portfolio includes pumps, filters, heaters, heat pumps, automatic pool cleaners, lighting, sanitization systems, water features and pool-control and automation solutions.

The company sells products under the Hayward brand and serves pool owners, builders, retailers, distributors and service professionals. Its equipment is used in both new pool construction and the replacement and renovation market, with an emphasis on energy efficiency, water quality and connected pool-management technologies.

Hayward traces its roots to 1925 and has developed into a global pool-equipment supplier.

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