Latham Group, Inc. (NASDAQ:SWIM) Receives Average Rating of “Reduce” from Brokerages

Shares of Latham Group, Inc. (NASDAQ:SWIM) have been given a consensus recommendation of “Reduce” by the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $7.8333.

SWIM has been the topic of several recent analyst reports. Barclays lifted their target price on Latham Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Latham Group in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Latham Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Finally, Zacks Research cut shares of Latham Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th.

Hedge Funds Weigh In On Latham Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in Latham Group by 1,124.5% during the 2nd quarter. California State Teachers Retirement System now owns 542,231 shares of the company’s stock valued at $3,508,000 after buying an additional 497,949 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Latham Group by 52.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,167 shares of the company’s stock valued at $292,000 after acquiring an additional 15,529 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Latham Group by 24.0% during the 2nd quarter. Wellington Management Group LLP now owns 11,364,049 shares of the company’s stock valued at $73,525,000 after acquiring an additional 2,201,843 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Latham Group in the second quarter valued at $653,000. Finally, Formula Growth Ltd. purchased a new position in shares of Latham Group in the second quarter valued at $8,897,000. 83.95% of the stock is owned by institutional investors.

Latham Group Stock Performance

NASDAQ:SWIM opened at $6.87 on Friday. The stock has a 50-day simple moving average of $6.47 and a two-hundred day simple moving average of $6.03. The firm has a market capitalization of $808.26 million, a PE ratio of 137.40, a P/E/G ratio of 1.50 and a beta of 1.72. Latham Group has a 52-week low of $4.64 and a 52-week high of $8.97. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 2.16.

Latham Group (NASDAQ:SWIM) last released its earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The firm had revenue of $197.47 million for the quarter, compared to the consensus estimate of $188.39 million. Latham Group had a return on equity of 1.31% and a net margin of 0.92%. Analysts forecast that Latham Group will post 0.16 EPS for the current year.

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.