Latham Group (NASDAQ:SWIM) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Latham Group from “strong sell” to “hold.” Analyst sentiment remains mixed: one Buy, four Hold, and two Sell ratings, with an average rating of “Reduce” and a consensus price target of $7.83.
• Shares opened at $8.28, near the stock’s 12-month high of $8.97; the price was above the consensus target cited in the report.
• Institutional investors own 83.95% of Latham Group, and several increased their holdings, including Wellington Management, which added about 2.2 million shares.

Latham Group (NASDAQ:SWIM - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

SWIM has been the topic of several other reports. The Goldman Sachs Group reissued a "sell" rating on shares of Latham Group in a research note on Monday, October 12th. Weiss Ratings cut shares of Latham Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. William Blair downgraded shares of Latham Group from an "outperform" rating to a "market perform" rating in a report on Thursday, October 8th. Finally, Barclays boosted their price target on shares of Latham Group from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $7.83.

Latham Group Price Performance

Latham Group stock opened at $8.28 on Monday. 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 0.68, a current ratio of 2.38 and a quick ratio of 1.63. The business has a 50 day simple moving average of $6.65 and a 200-day simple moving average of $6.22. The stock has a market capitalization of $974.97 million, a PE ratio of 103.50, a price-to-earnings-growth ratio of 1.23 and a beta of 1.71.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Inspire Investing LLC acquired a new stake in Latham Group in the third quarter valued at $638,000. WINTON GROUP Ltd acquired a new position in shares of Latham Group during the 2nd quarter worth $72,000. Squarepoint Ops LLC increased its holdings in shares of Latham Group by 68.7% in the 2nd quarter. Squarepoint Ops LLC now owns 574,790 shares of the company's stock valued at $3,719,000 after purchasing an additional 234,130 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Latham Group by 52.4% in 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 purchasing an additional 15,529 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 83.95% of the company's stock.

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.

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