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

Key Points

• Analysts are generally bearish on Latham Group: seven firms have a consensus “Reduce” rating, including three sells, three holds and one buy. The average 12-month price target is $7.83, above the stock’s reported $6.12 opening price.
• Recent analyst actions included downgrades from Zacks Research and William Blair, while Goldman Sachs reaffirmed its sell rating; Barclays maintained an equal-weight rating and raised its target to $8.
• Latham’s latest quarterly results were mixed: revenue of $197.47 million exceeded estimates, but earnings per share of $0.11 missed the $0.16 consensus forecast. Institutional investors own approximately 83.95% of the company’s shares.

Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) has been given a consensus recommendation of "Reduce" by the seven research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $7.83.

SWIM has been the topic of a number of research reports. Zacks Research downgraded shares of Latham Group from a "hold" rating to a "strong sell" rating in a report on Friday, October 9th. William Blair cut shares of Latham Group from an "outperform" rating to a "market perform" rating in a report on Thursday, October 8th. The Goldman Sachs Group reaffirmed a "sell" rating on shares of Latham Group in a report on Monday, October 12th. Barclays increased 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 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.

Latham Group Trading Down 2.1%

NASDAQ:SWIM opened at $6.12 on Friday. The company has a market cap of $720.02 million, a PE ratio of 122.40, a price-to-earnings-growth ratio of 1.33 and a beta of 1.66. 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 company has a 50 day simple moving average of $6.65 and a two-hundred day simple moving average of $6.04. Latham Group has a 12 month low of $4.64 and a 12 month high of $8.97.

Latham Group (NASDAQ:SWIM - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.05). The firm had revenue of $197.47 million for the quarter, compared to the consensus estimate of $188.39 million. Latham Group had a net margin of 0.92% and a return on equity of 1.31%. Research analysts forecast that Latham Group will post 0.16 earnings per share for the current year.

Institutional Trading of Latham Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd purchased a new position in shares of Latham Group during the 2nd quarter valued at $72,000. Squarepoint Ops LLC boosted its holdings in Latham Group by 68.7% in the 2nd quarter. Squarepoint Ops LLC now owns 574,790 shares of the company's stock worth $3,719,000 after buying an additional 234,130 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 worth $292,000 after buying an additional 15,529 shares during the period. Wellington Management Group LLP increased its stake 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 worth $73,525,000 after buying an additional 2,201,843 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Latham Group in the 2nd quarter worth $653,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

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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