Latham Group (NASDAQ:SWIM) Reaches New 52-Week Low at $16.72

Latham Group, Inc. (NASDAQ:SWIM) shares hit a new 52-week low during trading on Monday . The company traded as low as $16.72 and last traded at $16.72, with a volume of 2865 shares changing hands. The stock had previously closed at $17.84.

SWIM has been the topic of a number of research reports. KeyCorp decreased their price target on shares of Latham Group from $38.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, August 16th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Latham Group from a “buy” rating to a “hold” rating in a research note on Friday, September 10th. Finally, Morgan Stanley decreased their price target on shares of Latham Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, June 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $32.38.

The company has a fifty day moving average of $22.32. The company has a current ratio of 2.17, a quick ratio of 1.50 and a debt-to-equity ratio of 0.70.

Latham Group (NASDAQ:SWIM) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.06. The company had revenue of $180.89 million during the quarter, compared to the consensus estimate of $174.00 million. On average, equities analysts predict that Latham Group, Inc. will post 0.55 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of SWIM. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Latham Group during the second quarter worth $146,055,000. Zimmer Partners LP bought a new position in Latham Group during the second quarter worth $108,430,000. Vanguard Group Inc. bought a new position in Latham Group during the second quarter worth $66,330,000. Lord Abbett & CO. LLC bought a new position in Latham Group during the second quarter worth $56,751,000. Finally, BlackRock Inc. bought a new position in Latham Group during the second quarter worth $51,246,000. Institutional investors own 23.86% of the company’s stock.

Latham Group Company Profile (NASDAQ:SWIM)

Latham Group, Inc designs, manufactures, and markets in-ground residential swimming pools. The company offers in-ground swimming pools, pool liners, and pool cover products. Latham Group, Inc was formerly known as Latham Topco, Inc and changed its name to Latham Group, Inc in March 2021. Latham Group, Inc was incorporated in 2018 and is based in Latham, New York.

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