Shares of Hayward Holdings, Inc. (NYSE:HAYW – Get Rating) gapped down before the market opened on Friday after Credit Suisse Group downgraded the stock from an outperform rating to a neutral rating. The stock had previously closed at $9.00, but opened at $8.79. Credit Suisse Group now has a $9.00 price target on the stock, down from their previous price target of $18.00. Hayward shares last traded at $8.76, with a volume of 10,265 shares.
Other research analysts have also issued reports about the company. KeyCorp decreased their price objective on Hayward from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley decreased their price objective on Hayward from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday. The Goldman Sachs Group lowered Hayward from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $13.00 in a report on Friday, July 29th. Finally, Robert W. Baird lowered Hayward from an “outperform” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a report on Thursday, July 14th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.86.
Institutional Trading of Hayward
Institutional investors and hedge funds have recently modified their holdings of the business. Brinker Capital Investments LLC bought a new stake in shares of Hayward during the 2nd quarter worth $310,000. Fiera Capital Corp lifted its position in shares of Hayward by 52.5% during the 1st quarter. Fiera Capital Corp now owns 918,838 shares of the company’s stock worth $15,271,000 after buying an additional 316,335 shares during the last quarter. Summit Global Investments bought a new stake in shares of Hayward during the 1st quarter worth $371,000. Kovitz Investment Group Partners LLC bought a new stake in shares of Hayward during the 1st quarter worth $15,191,000. Finally, Wedge Capital Management L L P NC lifted its position in shares of Hayward by 59.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 754,874 shares of the company’s stock worth $12,546,000 after buying an additional 280,297 shares during the last quarter. 74.02% of the stock is currently owned by institutional investors.
Hayward Stock Down 2.7 %
The company has a debt-to-equity ratio of 0.92, a current ratio of 2.29 and a quick ratio of 1.28. The stock has a market capitalization of $1.89 billion, a P/E ratio of 8.49 and a beta of 0.59. The firm has a 50-day simple moving average of $10.48 and a 200 day simple moving average of $13.41.
Hayward (NYSE:HAYW – Get Rating) last posted its earnings results on Thursday, July 28th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $399.40 million during the quarter, compared to the consensus estimate of $416.21 million. Hayward had a net margin of 16.81% and a return on equity of 22.11%. Hayward’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. On average, equities research analysts forecast that Hayward Holdings, Inc. will post 0.99 EPS for the current year.
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 residential and commercial pool equipment, including pumps, filters, heaters, automatic pool cleaners, LED lighting, Internet of things enabled controls, alternate sanitizers, and water features.
