Latham Group (NASDAQ:SWIM) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of Latham Group (NASDAQ:SWIM) from a hold rating to a strong sell rating in a report published on Thursday,Zacks.com reports.

Several other brokerages have also recently issued reports on SWIM. Weiss Ratings restated a “hold (c-)” rating on shares of Latham Group in a research note on Tuesday. Wall Street Zen lowered Latham Group from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. The Goldman Sachs Group reiterated a “sell” rating on shares of Latham Group in a report on Wednesday, May 6th. Barclays dropped their price target on Latham Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Finally, Bank of America cut their target price on shares of Latham Group from $7.00 to $6.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $7.50.

Latham Group Price Performance

SWIM opened at $7.48 on Thursday. The company has a 50-day moving average of $5.89 and a 200-day moving average of $5.96. The company has a market capitalization of $880.02 million, a P/E ratio of 149.60, a PEG ratio of 1.48 and a beta of 1.65. Latham Group has a 1-year low of $4.64 and a 1-year high of $8.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.16 and a current ratio of 1.88.

Latham Group (NASDAQ:SWIM) last issued its earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Latham Group had a net margin of 0.92% and a return on equity of 1.32%. The company had revenue of $197.47 million during the quarter, compared to analyst estimates of $188.39 million. Equities analysts expect that Latham Group will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Latham Group

In other news, Director James E. Cline bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $4.84 per share, with a total value of $242,000.00. Following the completion of the purchase, the director directly owned 100,000 shares of the company’s stock, valued at $484,000. This represents a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Oliver C. Gloe bought 15,050 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $4.90 per share, for a total transaction of $73,745.00. Following the completion of the acquisition, the chief financial officer owned 540,758 shares of the company’s stock, valued at $2,649,714.20. This trade represents a 2.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.32% of the company’s stock.

Institutional Trading of Latham Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SWIM. BNP Paribas Financial Markets boosted its holdings in Latham Group by 83.9% during the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock worth $27,000 after buying an additional 1,921 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Latham Group in the second quarter worth approximately $29,000. Summit Securities Group LLC bought a new position in shares of Latham Group in the first quarter valued at $30,000. Covestor Ltd increased its holdings in shares of Latham Group by 153.0% in the fourth quarter. Covestor Ltd now owns 5,576 shares of the company’s stock valued at $35,000 after buying an additional 3,372 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Latham Group during the 4th quarter valued at $55,000. 83.95% of the stock is currently owned by institutional investors.

About Latham Group

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.