Latham Group, Inc. (NASDAQ:SWIM) Receives Average Recommendation of "Reduce" from Brokerages

Key Points

• Latham Group has an average “Reduce” rating from seven analysts: three sell ratings, two holds and two buys. The average 12-month price target is $7.83, modestly above the reported $7.08 share price.
• Institutional investors own 83.95% of SWIM, with several major firms increasing their positions, including BNP Paribas Financial Markets, JPMorgan Chase and Rhumbline Advisers.
• Latham’s latest quarterly earnings came in below expectations, with EPS of $0.11 versus the $0.16 consensus estimate, although revenue of $197.47 million exceeded forecasts of $188.39 million.

Shares of Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) have been assigned an average rating of "Reduce" from the seven research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.8333.

A number of research analysts recently weighed in on SWIM shares. The Goldman Sachs Group reaffirmed a "sell" rating on shares of Latham Group in a research report on Wednesday, May 6th. Zacks Research downgraded Latham Group from a "hold" rating to a "strong sell" rating in a report on Thursday, August 6th. Barclays raised their price target on Latham Group from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Latham Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SWIM. Rhumbline Advisers lifted its stake in shares of Latham Group by 2.7% in the second quarter. Rhumbline Advisers now owns 63,639 shares of the company's stock worth $406,000 after buying an additional 1,672 shares in the last quarter. Deutsche Bank AG increased its position in shares of Latham Group by 5.1% during the fourth quarter. Deutsche Bank AG now owns 35,682 shares of the company's stock valued at $227,000 after acquiring an additional 1,721 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Latham Group by 5.5% in the 3rd quarter. Squarepoint Ops LLC now owns 35,978 shares of the company's stock worth $274,000 after acquiring an additional 1,873 shares during the last quarter. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 1,921 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Latham Group by 9.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company's stock valued at $140,000 after acquiring an additional 1,978 shares in the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Latham Group Stock Performance

Shares of Latham Group stock opened at $7.08 on Friday. Latham Group has a 12 month low of $4.64 and a 12 month high of $8.97. The firm has a market capitalization of $832.96 million, a P/E ratio of 141.60, a P/E/G ratio of 1.52 and a beta of 1.65. The company has a current ratio of 2.16, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $6.40 and a two-hundred day simple moving average of $6.03.

Latham Group (NASDAQ:SWIM - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $188.39 million. On average, equities analysts forecast that Latham Group will post 0.16 earnings per share 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.

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