Hayward (NYSE:HAYW) Stock Price Breaks Above 50 Day Moving Average - Should You Sell?

Key Points

• Hayward shares rose above their 50-day moving average, reaching $13.13 and last trading near $13.06, while remaining below the 200-day average of $14.59.
• Analyst sentiment is mixed but leans neutral: the stock has a consensus “Hold” rating and an average price target of $16.62, despite one recent downgrade to “Strong Sell.”
• The company exceeded quarterly expectations, reporting $0.26 in earnings per share and $318.38 million in revenue, up 6.3% year over year; however, insiders sold 157,000 shares worth about $2.16 million over the past three months.

Hayward Holdings, Inc. (NYSE:HAYW - Get Free Report) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $12.95 and traded as high as $13.13. Hayward shares last traded at $13.0580, with a volume of 4,676,264 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wolfe Research initiated coverage on Hayward in a research note on Tuesday, September 15th. They set a "peer perform" rating on the stock. Zacks Research downgraded Hayward from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. KeyCorp reiterated a "sector weight" rating on shares of Hayward in a research report on Monday, July 20th. Cantor Fitzgerald reissued a "neutral" rating on shares of Hayward in a report on Monday, July 6th. Finally, The Goldman Sachs Group lowered their price objective on Hayward from $17.00 to $14.00 and set a "neutral" rating on the stock in a research report on Friday, October 9th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hayward currently has a consensus rating of "Hold" and an average price target of $16.62.

Hayward Stock Performance

The company has a market cap of $2.77 billion, a price-to-earnings ratio of 17.65 and a beta of 1.18. The business's 50 day moving average price is $12.95 and its 200-day moving average price is $14.59.

Hayward (NYSE:HAYW - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $318.38 million for the quarter, compared to the consensus estimate of $303.35 million. During the same period in the previous year, the business posted $0.24 earnings per share. Hayward's revenue was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Hayward Holdings, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at Hayward

In other Hayward news, SVP Susan Canning sold 3,500 shares of the firm's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $11.70, for a total transaction of $40,950.00. Following the completion of the transaction, the senior vice president owned 164,411 shares in the company, valued at $1,923,608.70. This trade represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Kevin Holleran sold 50,000 shares of Hayward stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $12.40, for a total value of $620,000.00. Following the sale, the chief executive officer directly owned 401,234 shares in the company, valued at $4,975,301.60. The trade was a 11.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 157,000 shares of company stock worth $2,163,890. 4.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hayward

Hedge funds have recently modified their holdings of the stock. Citizens Financial Group Inc. RI bought a new position in shares of Hayward during the 3rd quarter worth approximately $131,000. MBL Wealth LLC bought a new stake in Hayward in the third quarter valued at $125,000. IFP Advisors Inc grew its position in Hayward by 178.1% in the third quarter. IFP Advisors Inc now owns 4,097 shares of the company's stock valued at $50,000 after acquiring an additional 2,624 shares during the period. PineStone Asset Management Inc. grew its position in Hayward by 17.2% in the third quarter. PineStone Asset Management Inc. now owns 76,868 shares of the company's stock valued at $941,000 after acquiring an additional 11,300 shares during the period. Finally, ZWJ Investment Counsel Inc. raised its stake in Hayward by 11.1% during the third quarter. ZWJ Investment Counsel Inc. now owns 19,921 shares of the company's stock worth $244,000 after acquiring an additional 1,983 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.