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

Key Points

• Latham Group has a consensus “Hold” rating from seven analysts: two sell, three hold and two buy ratings. The average 12-month price target is $7.83, compared with the stock’s reported price of $6.63.
• In its latest quarter, Latham Group reported revenue of $197.47 million, above the $188.39 million consensus estimate, but adjusted earnings of $0.11 per share missed expectations of $0.16.
• Institutional investors own approximately 83.95% of the company, with several hedge funds—including Wellington Management and Arrowstreet Capital—recently increasing their positions.

Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) has been assigned an average rating of "Hold" from the seven research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $7.8333.

A number of equities research analysts recently issued reports on SWIM shares. Weiss Ratings raised Latham Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. Barclays upped their price objective on Latham Group from $7.00 to $8.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Finally, Zacks Research upgraded Latham Group from a "strong sell" rating to a "hold" rating in a research note on Friday, September 4th.

Latham Group Price Performance

SWIM stock opened at $6.63 on Wednesday. The stock has a market cap of $780.02 million, a PE ratio of 132.60, a P/E/G ratio of 1.40 and a beta of 1.72. Latham Group has a 12 month low of $4.64 and a 12 month high of $8.97. The company has a 50-day moving average price of $6.57 and a 200 day moving average price of $6.01. The company has a current ratio of 2.16, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67.

Latham Group (NASDAQ:SWIM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share (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 firm had revenue of $197.47 million during the quarter, compared to the consensus estimate of $188.39 million. Equities research analysts anticipate that Latham Group will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Latham Group

Institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC lifted its holdings in shares of Latham Group by 68.7% during 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 during the last quarter. Congruence Capital LLC purchased a new position in Latham Group during the 4th quarter worth $1,278,000. CenterBook Partners LP increased its position in Latham Group by 21.0% during the 4th quarter. CenterBook Partners LP now owns 1,245,337 shares of the company's stock valued at $7,908,000 after buying an additional 215,774 shares in the last quarter. Wellington Management Group LLP raised its stake in Latham Group by 24.0% in the second quarter. Wellington Management Group LLP now owns 11,364,049 shares of the company's stock valued at $73,525,000 after buying an additional 2,201,843 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Latham Group by 293.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 431,239 shares of the company's stock valued at $2,316,000 after buying an additional 321,577 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Latham Group Company Profile

Latham Group, Inc NASDAQ: SWIM designs, manufactures and markets residential swimming pool products. The company serves the in-ground pool market with a portfolio that includes fiberglass pools, vinyl pool liners and automatic safety covers, along with related pool components and accessories.

Latham sells its products primarily through a network of independent dealers, distributors and pool professionals. Its products are used in new pool construction as well as renovation and replacement projects, serving homeowners and contractors in the residential swimming pool industry.

The company operates manufacturing and distribution facilities across North America, Australia and New Zealand, with additional operations serving European markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.