William Blair analyst Ryan Merkel has maintained their bullish stance on HAYW stock, giving a Buy rating on April 27.
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Ryan Merkel has given his Buy rating due to a combination of factors including a strong first-quarter performance and what he views as achievable 2026 guidance. Despite the stock declining after earnings, he sees the pullback as a chance to purchase shares because channel inventories look healthy, Hayward is prudently conservative given macro uncertainty, and gross margins are expected to resume expanding in the second half.
He also believes Hayward is gaining market share and driving innovation, positioning revenue growth to beat peers in 2026 even if the overall pool market stays flat. Merkel views the company’s margin outlook as resilient, supported by operating leverage and fading SG&A investments, and notes that the shares trade at a modest valuation relative to long-term EBITDA potential, reinforcing his positive stance.
In another report released on April 27, Stifel Nicolaus also reiterated a Buy rating on the stock with a $19.50 price target.