Latham Group (NASDAQ:SWIM) Stock Rating Lowered by William Blair

Key Points

• William Blair downgraded Latham Group from “outperform” to “market perform,” while the broader analyst consensus remains “Reduce,” with an average price target of $7.83.
• Latham Group shares opened at $6.37 and were down 0.3%; the company recently reported quarterly EPS of $0.11, missing the $0.16 consensus estimate, although revenue of $197.47 million exceeded expectations.
• Institutional investors own approximately 83.95% of the company, with several major funds—including Wellington Management and Squarepoint Ops—recently increasing their positions.

Latham Group (NASDAQ:SWIM - Get Free Report) was downgraded by research analysts at William Blair from an "outperform" rating to a "market perform" rating in a report released on Thursday, Marketbeat reports.

Several other equities analysts have also weighed in on the company. Zacks Research upgraded Latham Group from a "strong sell" rating to a "hold" rating in a report on Friday, September 4th. Barclays upped 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. Finally, Weiss Ratings raised Latham Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Latham Group presently has a consensus rating of "Reduce" and an average price target of $7.83.

Latham Group Trading Down 0.3%

NASDAQ:SWIM opened at $6.37 on Thursday. The company has a market capitalization of $749.43 million, a P/E ratio of 127.40, a P/E/G ratio of 1.39 and a beta of 1.66. The stock's 50 day moving average price is $6.68 and its 200 day moving average price is $6.02. 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 has a 52 week low of $4.64 and a 52 week high of $8.97.

Latham Group (NASDAQ:SWIM - Get Free Report) last posted its 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). Latham Group had a return on equity of 1.31% and a net margin of 0.92%.The business had revenue of $197.47 million during the quarter, compared to the consensus estimate of $188.39 million. On average, research analysts forecast that Latham Group will post 0.16 EPS for the current fiscal year.

Institutional Trading of Latham Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC increased its position in Latham Group by 68.7% during the second quarter. Squarepoint Ops LLC now owns 574,790 shares of the company's stock worth $3,719,000 after acquiring an additional 234,130 shares during the period. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 2,201,843 shares during the period. Congruence Capital LLC acquired a new stake in Latham Group in the 4th quarter worth $1,278,000. Arrowstreet Capital Limited Partnership grew its position in Latham Group by 293.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,239 shares of the company's stock worth $2,316,000 after purchasing an additional 321,577 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new position in shares of Latham Group during the 2nd quarter worth about $3,615,000. Institutional investors and hedge funds own 83.95% of the company's stock.

About Latham Group

Latham Group, Inc is a manufacturer and marketer of residential swimming pool products. The company focuses primarily on the in-ground pool market and supplies products used in the construction, renovation and maintenance of swimming pools.

Its product portfolio includes fiberglass pool shells, vinyl pool liners, automatic safety covers and related pool components and accessories. Latham sells its products through a network of dealers, builders and distributors, serving both new pool construction and replacement and remodeling demand.

The company serves customers primarily in North America, with operations and sales activities in the United States and Canada, as well as in Australia and New Zealand.

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