Hayward Holdings Inc (HAYW)

Hayward Holdings Inc Stock (HAYW) dropped by 8.70% from $11.50 to $10.50 in the trading on Tuesday October 31, 2023. The reason why HAYW stock down today include:

• Guidance cut: Hayward posted better-than-expected quarterly results but cut its full-year guidance. Hayward expects net sales to decrease 24% - 26% from the prior year vs. estimated growth of -22.56% Y/Y and adjusted EBITDA in the range of $245 - $255 million.
• Lower price target: Hayward had its target price trimmed by Stifel Nicolaus from $16.50 to $15.00 in a research note. The firm currently has a buy rating on the stock.

Shares of Hayward Holdings (HAYW) dropped by 5.04% from $12.50 to $11.87 in the trading on Tuesday, October 24, 2023. The reason why HAYW stock down is due to market expectations of lower revenues in the upcoming quarterly report for September 2023.

• Earnings per share: Analysts anticipate the company will report earnings of $0.09 per share, indicating a -35.7% year-over-year decline. The consensus EPS estimate has been revised down by 4.35% over the past 30 days, signaling adjustments to initial forecasts.
• Revenue: The expected revenue for the quarter is $210.4 million, representing a 14.2% drop from the previous year.

Debt Level: HAYW's net debt to equity ratio (92.4%) is considered high.Debt Coverage: HAYW's debt is not well covered by operating cash flow (7%).

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