Latham Group, Inc. (NASDAQ:SWIM) Stock Now Rated “Reduce” by Wall Street Brokerages

Latham Group, Inc. (NASDAQ:SWIM) has earned an average rating of “Reduce” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $7.83.

A number of brokerages recently issued reports on SWIM. Weiss Ratings raised Latham Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 18th. The Goldman Sachs Group restated a “sell” rating on shares of Latham Group in a research report on Monday, October 12th. Zacks Research downgraded Latham Group from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. William Blair lowered Latham Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 8th. Finally, Barclays increased their price target on Latham Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th.

Latham Group Trading Up 3.6%

Latham Group stock opened at $6.54 on Friday. Latham Group has a 52-week low of $4.64 and a 52-week high of $8.97. The company has a quick ratio of 1.44, a current ratio of 2.16 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $769.43 million, a price-to-earnings ratio of 130.80, a PEG ratio of 1.38 and a beta of 1.66. The firm has a 50-day moving average price of $6.55 and a two-hundred day moving average price of $6.08.

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

Institutional Investors Weigh In On Latham Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in Latham Group by 24.0% in the 2nd quarter. Wellington Management Group LLP now owns 11,364,049 shares of the company’s stock valued at $73,525,000 after buying an additional 2,201,843 shares in the last quarter. BlackRock Inc. acquired a new position in Latham Group during the 2nd quarter valued at about $23,532,000. Dimensional Fund Advisors LP increased its stake in Latham Group by 16.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,370,146 shares of the company’s stock valued at $18,096,000 after buying an additional 470,123 shares during the period. Formula Growth Ltd. acquired a new position in Latham Group during the 2nd quarter valued at about $8,897,000. Finally, Emerald Advisers LLC raised its position in shares of Latham Group by 3.2% during the 1st quarter. Emerald Advisers LLC now owns 1,006,795 shares of the company’s stock worth $5,406,000 after buying an additional 31,091 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Latham Group Company Profile

Latham Group, Inc designs, manufactures and markets residential swimming pool products. The company is best known for its in-ground fiberglass pools, which are manufactured as pre-formed shells and installed at residential properties. Its product portfolio also includes vinyl pool liners, automatic and safety pool covers, pool walls, steps, stairs and related components.

Latham serves the residential swimming pool construction and renovation markets through a network of dealers, builders and distributors.