Latham Group, Inc. (NASDAQ:SWIM) Receives Average Rating of "Hold" from Analysts

Key Points

• Latham Group has an average analyst rating of “Hold”, with seven analysts split between two sells, three holds, and two buys. The average 12-month price target is $7.50.
• Recent analyst actions were mixed but mostly cautious, including price target cuts from Bank of America and Barclays, while Goldman Sachs reiterated a sell rating. Wall Street Zen downgraded the stock to hold, though Weiss Ratings upgraded it to hold from sell.
• Insiders have been buying shares: the CFO and a director both made recent purchases, and insiders own 3.32% of the company. Institutional investors hold the vast majority of shares at 83.95%.

Shares of Latham Group, Inc. (NASDAQ:SWIM - Get Free Report) have been assigned an average rating of "Hold" from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $7.50.

A number of research firms recently weighed in on SWIM. Bank of America decreased their price target on Latham Group from $7.00 to $6.00 and set an "underperform" rating for the company in a research report on Monday, April 20th. Barclays dropped their target price on shares of Latham Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. Wall Street Zen downgraded shares of Latham Group from a "buy" rating to a "hold" rating in a research report on Sunday, April 12th. Weiss Ratings upgraded shares of Latham Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group restated a "sell" rating on shares of Latham Group in a report on Wednesday, May 6th.

Insider Activity

In related news, CFO Oliver C. Gloe purchased 15,050 shares of Latham Group stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $4.90 per share, with a total value of $73,745.00. Following the completion of the transaction, the chief financial officer directly owned 540,758 shares of the company's stock, valued at $2,649,714.20. This trade represents a 2.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Cline purchased 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average price of $4.84 per share, with a total value of $242,000.00. Following the completion of the acquisition, the director owned 100,000 shares of the company's stock, valued at $484,000. This trade represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Latham Group

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in shares of Latham Group by 83.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company's stock valued at $27,000 after acquiring an additional 1,921 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Latham Group during the second quarter worth $29,000. Summit Securities Group LLC acquired a new stake in Latham Group during the first quarter valued at $30,000. Covestor Ltd boosted its position in Latham Group by 153.0% during the fourth quarter. Covestor Ltd now owns 5,576 shares of the company's stock valued at $35,000 after purchasing an additional 3,372 shares during the last quarter. Finally, State of Wyoming purchased a new position in Latham Group in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 83.95% of the company's stock.

Latham Group Trading Up 1.9%

Shares of NASDAQ:SWIM opened at $5.99 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.16 and a current ratio of 1.88. The stock has a market capitalization of $703.29 million, a price-to-earnings ratio of 85.57, a PEG ratio of 1.00 and a beta of 1.62. Latham Group has a 1-year low of $4.64 and a 1-year high of $8.97. The company has a 50 day moving average price of $5.60 and a 200 day moving average price of $6.01.

Latham Group (NASDAQ:SWIM - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). The company had revenue of $117.31 million for the quarter, compared to analyst estimates of $118.39 million. Latham Group had a net margin of 1.55% and a return on equity of 2.13%. On average, research analysts anticipate that Latham Group will post 0.18 EPS for the current fiscal year.

Latham Group Company Profile

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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