Hayward Holdings Inc. shares touched a 52-week low of $12.63 on Wednesday, extending a roughly 13% decline from a year ago, even as the company reported better-than-expected results for the second quarter.
The stock, which ticked down another 0.86% to $12.64 in intraday trading, came under pressure despite Hayward reporting second-quarter adjusted earnings of $0.26 per share, topping the Wall Street consensus of $0.25. Revenue rose 6% year over year to $318.4 million, also beating estimates of $312.73 million.
The company attributed the sales growth to price increases and stable volume. Hayward said it is maintaining its full-year outlook.
Stifel reiterated a "Buy" rating on the stock, citing confidence that Hayward can sustain or accelerate its growth trajectory. The firm listed two separate price targets — $14.05 and $19.50 — and said it plans to hold meetings with Hayward's chief executive, chief financial officer and vice president of investor relations.
At the current price, Hayward trades at a P/E ratio of 17.64 and a PEG ratio of 0.85. An InvestingPro analysis flagged the stock as appearing undervalued relative to its fair-value estimate, noting that its relative-strength index had slipped into oversold territory.
