Latham Group, Inc. (NASDAQ:SWIM) Stock Has Average Target Price of $7.83 According to Analysts

Latham Group, Inc. (NASDAQ:SWIM) has been given an average recommendation of “Reduce” by the seven analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.83.

Several research firms have commented on SWIM. Barclays upped their price objective on shares of Latham Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Weiss Ratings lowered shares of Latham Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. The Goldman Sachs Group reiterated a “sell” rating on shares of Latham Group in a research note on Monday, October 12th. William Blair lowered shares of Latham Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 8th. Finally, Zacks Research upgraded shares of Latham Group from a “strong sell” rating to a “hold” rating in a research note on Monday.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Latham Group during the 2nd quarter valued at $23,532,000. Wellington Management Group LLP lifted its position in shares of Latham Group by 24.0% during the second quarter. Wellington Management Group LLP now owns 11,364,049 shares of the company’s stock worth $73,525,000 after acquiring an additional 2,201,843 shares in the last quarter. Formula Growth Ltd. purchased a new stake in shares of Latham Group during the second quarter worth $8,897,000. Rice Hall James & Associates LLC bought a new position in shares of Latham Group in the second quarter worth $4,839,000. Finally, Polar Asset Management Partners Inc. bought a new position in shares of Latham Group in the second quarter worth $3,615,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

Latham Group Trading Up 1.6%

Shares of SWIM opened at $8.41 on Thursday. The business has a 50-day moving average of $6.68 and a 200 day moving average of $6.23. Latham Group has a fifty-two week low of $4.64 and a fifty-two week high of $8.97. The firm has a market cap of $990.29 million, a P/E ratio of 105.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.63 and a current ratio of 2.38.

About Latham Group

Latham Group, Inc. designs, manufactures and markets in-ground swimming pools and related products for residential use. Its offerings include fiberglass pools, vinyl pool liners and automatic safety covers. The company serves customers primarily in North America, as well as in Australia and New Zealand. Its business builds on the history of Latham Pool Products, which dates to 1956.