Barclays Lowers Latham Group (NASDAQ:SWIM) Price Target to $7.00

Latham Group (NASDAQ:SWIM) had its price target cut by equities researchers at Barclays from $8.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 24.44% from the company’s current price.

Several other research firms also recently commented on SWIM. Stifel Nicolaus raised their target price on Latham Group from $8.75 to $9.50 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Zacks Research downgraded Latham Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 3rd. Wall Street Zen upgraded Latham Group from a “hold” rating to a “buy” rating in a research report on Saturday. William Blair restated an “outperform” rating on shares of Latham Group in a research report on Wednesday, March 4th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Latham Group in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.00.

Latham Group Stock Performance

Shares of SWIM stock traded up $0.46 during mid-day trading on Wednesday, reaching $5.63. The stock had a trading volume of 264,546 shares, compared to its average volume of 986,698. The firm’s 50 day simple moving average is $6.20 and its 200 day simple moving average is $6.68. The company has a quick ratio of 1.82, a current ratio of 2.77 and a debt-to-equity ratio of 0.68. Latham Group has a one year low of $4.56 and a one year high of $8.97. The firm has a market cap of $657.90 million, a PE ratio of 62.50, a P/E/G ratio of 1.86 and a beta of 1.75.

Latham Group (NASDAQ:SWIM) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Latham Group had a return on equity of 2.79% and a net margin of 2.04%.The company had revenue of $99.95 million during the quarter, compared to the consensus estimate of $95.86 million. On average, analysts forecast that Latham Group will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Latham Group

Several institutional investors have recently bought and sold shares of SWIM. Wellington Management Group LLP raised its position in Latham Group by 216.4% in the 4th quarter. Wellington Management Group LLP now owns 6,749,349 shares of the company’s stock valued at $42,858,000 after purchasing an additional 4,616,367 shares during the last quarter. Citadel Advisors LLC raised its position in Latham Group by 206.5% in the 3rd quarter. Citadel Advisors LLC now owns 4,620,114 shares of the company’s stock valued at $35,159,000 after purchasing an additional 3,112,708 shares during the last quarter. CAS Investment Partners LLC bought a new position in Latham Group in the 3rd quarter valued at $7,610,000. UBS Group AG raised its position in Latham Group by 1,709.2% in the 4th quarter. UBS Group AG now owns 955,867 shares of the company’s stock valued at $6,070,000 after purchasing an additional 903,032 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Latham Group by 36.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,257,228 shares of the company’s stock valued at $24,788,000 after purchasing an additional 873,903 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Latham Group Company Profile

Latham Group, Inc designs, manufactures and supplies a broad range of aquatic products and services for residential and commercial applications. Offerings include fiberglass and vinyl-liner pool shells, commercial water park structures, water slides, surf simulators, pumps, filters, heaters and sanitation systems. The company also provides parts, equipment and technical support for pool installation, maintenance and repair.

Operating across three core segments—commercial, residential and aftermarket—Latham delivers turnkey aquatic facilities and attractions for municipal, hospitality and resort clients, offers packaged pool kits and equipment packages to builders and dealers, and supplies replacement parts, service contracts and technical assistance to support ongoing pool operations.

Headquartered in the United States, Latham Group maintains manufacturing and distribution centers throughout North America and Europe.