Hayward (NYSE:HAYW) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Hayward Holdings, Inc. (NYSE:HAYW) shares 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 traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HAYW. Wolfe Research initiated coverage on shares of Hayward in a research report on Tuesday, September 15th. They set a “peer perform” rating for the company. The Goldman Sachs Group reduced their price target on shares of Hayward from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Zacks Research cut shares of Hayward from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. KeyCorp reaffirmed a “sector weight” rating on shares of Hayward in a report on Monday, July 20th. Finally, Weiss Ratings cut shares of Hayward from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.62.

Hayward Trading Up 1.9%

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

Hayward (NYSE:HAYW) last issued its earnings results on Wednesday, July 29th. The company reported $0.26 EPS for the quarter, beating the consensus estimate 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. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. As a group, research analysts anticipate that Hayward Holdings, Inc. will post 0.86 earnings per share for the current year.

Insider Buying and Selling at Hayward

In other Hayward news, SVP Susan M. Canning sold 3,500 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $11.70, for a total value of $40,950.00. Following the transaction, the senior vice president owned 164,411 shares of the company’s stock, valued at approximately $1,923,608.70. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Kevin Holleran sold 50,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $13.85, for a total value of $692,500.00. Following the completion of the transaction, the chief executive officer directly owned 701,234 shares in the company, valued at $9,712,090.90. The trade was a 6.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 157,000 shares of company stock worth $2,163,890 over the last 90 days. 4.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hayward

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HAYW. Illinois Municipal Retirement Fund grew its position in shares of Hayward by 0.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 112,055 shares of the company’s stock worth $1,499,000 after buying an additional 938 shares during the period. GAMMA Investing LLC raised its position in shares of Hayward by 33.6% in the 2nd quarter. GAMMA Investing LLC now owns 4,760 shares of the company’s stock valued at $82,000 after acquiring an additional 1,198 shares during the period. Farther Finance Advisors LLC raised its position in shares of Hayward by 95.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,134 shares of the company’s stock valued at $38,000 after acquiring an additional 1,529 shares during the period. Steph & Co. boosted its stake in Hayward by 29.2% during the 3rd quarter. Steph & Co. now owns 8,644 shares of the company’s stock worth $106,000 after acquiring an additional 1,954 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. boosted its stake in Hayward by 11.1% during the 3rd 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 during 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.