Insider Selling: Hayward (NYSE:HAYW) SVP Sells 2,000 Shares of Stock

Key Points

• Insider sale: Hayward SVP Susan Canning sold 2,000 shares at an average price of $15.50, worth $31,000, under a pre-arranged Rule 10b5-1 trading plan. She retained 162,411 shares after the transaction.
• Strong quarterly results: Hayward reported EPS of $0.18, beating estimates of $0.15, while revenue rose 6.5% year over year to $260.13 million, above expectations.
• Stock and analyst outlook: Shares climbed 3.8% to $16.73, near the company’s 52-week high of $17.42. Analysts maintain a consensus “Hold” rating with an average price target of $17.12.

Hayward Holdings, Inc. (NYSE:HAYW - Get Free Report) SVP Susan Canning sold 2,000 shares of the business's stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $15.50, for a total value of $31,000.00. Following the completion of the sale, the senior vice president owned 162,411 shares in the company, valued at $2,517,370.50. This represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hayward Trading Up 3.8%

HAYW traded up $0.61 during mid-day trading on Monday, hitting $16.73. 6,675,486 shares of the stock were exchanged, compared to its average volume of 2,687,149. The firm's fifty day moving average is $12.99 and its two-hundred day moving average is $14.57. Hayward Holdings, Inc. has a 1-year low of $11.24 and a 1-year high of $17.42. The company has a current ratio of 3.33, a quick ratio of 2.43 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.49 billion, a PE ratio of 21.44, a PEG ratio of 1.37 and a beta of 1.13.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Hayward during the second quarter worth approximately $422,455,000. Reinhart Partners LLC. acquired a new position in Hayward in the 3rd quarter valued at $38,607,000. Bank of America Corp DE purchased a new position in Hayward during the 2nd quarter worth $33,306,000. Bank of New York Mellon Corp purchased a new position in Hayward during the 2nd quarter worth $28,916,000. Finally, William Blair Investment Management LLC purchased a new position in Hayward during the 2nd quarter worth $26,828,000.

Wall Street Analysts Forecast Growth

HAYW has been the topic of a number of analyst reports. Weiss Ratings lowered shares of Hayward from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, October 23rd. The Goldman Sachs Group raised their price target on Hayward from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Wednesday. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Hayward in a report on Monday, July 6th. Wolfe Research initiated coverage on Hayward in a report on Tuesday, September 15th. They issued a "peer perform" rating on the stock. Finally, KeyCorp restated a "sector weight" rating on shares of Hayward in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $17.12.

About Hayward

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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