Latham Group, Inc. (NASDAQ:SWIM) Receives $7.50 Consensus Target Price from Brokerages

Latham Group, Inc. (NASDAQ:SWIM) has received an average recommendation of “Hold” from the seven research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $7.50.

A number of analysts recently weighed in on SWIM shares. Bank of America reduced their target price on shares of Latham Group from $7.00 to $6.00 and set an “underperform” rating for the company in a report on Monday, April 20th. Weiss Ratings upgraded shares of Latham Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Zacks Research cut shares of Latham Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Barclays reduced their target price on shares of Latham Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Finally, Stifel Nicolaus raised their target price on shares of Latham Group from $8.75 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, March 4th.

Insider Buying and Selling

In other Latham Group news, CFO Oliver C. Gloe bought 15,050 shares of Latham Group stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 approximately $2,649,714.20. This represents a 2.86% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Cline bought 50,000 shares of Latham Group stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average price of $4.84 per share, with a total value of $242,000.00. Following the completion of the acquisition, 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 SEC filing for this purchase provides additional information. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in Latham Group by 83.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock worth $27,000 after purchasing an additional 1,921 shares during the period. Raymond James Financial Inc. acquired a new position in Latham Group in the 2nd quarter worth approximately $29,000. Summit Securities Group LLC acquired a new position in Latham Group in the 1st quarter worth approximately $30,000. Covestor Ltd boosted its stake in Latham Group by 153.0% in the 4th quarter. Covestor Ltd now owns 5,576 shares of the company’s stock worth $35,000 after purchasing an additional 3,372 shares during the period. Finally, State of Alaska Department of Revenue acquired a new position in Latham Group in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Latham Group Price Performance

NASDAQ SWIM opened at $5.58 on Thursday. Latham Group has a 12 month low of $4.64 and a 12 month high of $8.97. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.88 and a quick ratio of 1.16. The firm has a market capitalization of $655.15 million, a PE ratio of 79.71, a P/E/G ratio of 0.91 and a beta of 1.72. The company’s 50 day simple moving average is $5.55 and its 200 day simple moving average is $6.23.

Latham Group (NASDAQ:SWIM) last issued its earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $117.32 million for the quarter, compared to the consensus estimate of $118.39 million. Latham Group had a return on equity of 2.13% and a net margin of 1.55%. As a group, equities research analysts forecast that Latham Group will post 0.18 EPS for the current fiscal 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.