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

Key Points

• Brokerages maintain a “Hold” consensus on Latham Group, with two sell, three hold and two buy ratings; the average 12-month price target is $7.50.
• Recent analyst actions have generally been cautious: Bank of America cut its target to $6.00 with an “underperform” rating, while Barclays lowered its target to $7.00 and Goldman Sachs reaffirmed a “sell” rating.
• Company insiders recently bought shares, including the CFO’s 15,050-share purchase and a director’s 50,000-share purchase. The stock opened at $5.64, and Latham’s latest quarterly results missed estimates on both earnings and revenue.

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

SWIM has been the topic of several research reports. Bank of America dropped their target price on shares of Latham Group from $7.00 to $6.00 and set an "underperform" rating on the stock in a report on Monday, April 20th. Weiss Ratings upgraded shares of Latham Group from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. The Goldman Sachs Group reissued a "sell" rating on shares of Latham Group in a report on Wednesday, May 6th. Barclays dropped their price target on Latham Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Finally, Wall Street Zen lowered Latham Group from a "buy" rating to a "hold" rating in a report on Sunday, April 12th.

Insider Activity

In other news, CFO Oliver C. Gloe bought 15,050 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were 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 owned 540,758 shares of the company's stock, valued at approximately $2,649,714.20. This trade represents a 2.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James E. Cline purchased 50,000 shares of Latham Group stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $4.84 per share, with a total value of $242,000.00. Following the transaction, the director directly owned 100,000 shares in the company, valued at approximately $484,000. The trade was a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 3.32% of the company's stock.

Institutional Trading of Latham Group

Several large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in Latham Group by 7.4% in the first quarter. Empowered Funds LLC now owns 405,207 shares of the company's stock worth $2,605,000 after acquiring an additional 27,916 shares during the period. Jane Street Group LLC grew its position in shares of Latham Group by 27.1% during the 1st quarter. Jane Street Group LLC now owns 24,894 shares of the company's stock valued at $160,000 after acquiring an additional 5,315 shares during the period. JPMorgan Chase & Co. grew its position in shares of Latham Group by 9.9% during 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 during the period. Rhumbline Advisers increased its stake in shares of Latham Group by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 63,639 shares of the company's stock worth $406,000 after purchasing an additional 1,672 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Latham Group by 12.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,096 shares of the company's stock worth $115,000 after purchasing an additional 2,038 shares during the period. 83.95% of the stock is currently owned by institutional investors.

Latham Group Stock Performance

Shares of NASDAQ SWIM opened at $5.64 on Tuesday. The firm's 50-day moving average price is $5.76 and its 200-day moving average price is $5.94. The company has a quick ratio of 1.16, a current ratio of 1.88 and a debt-to-equity ratio of 0.70. The company has a market cap of $662.19 million, a PE ratio of 80.57, a PEG ratio of 0.92 and a beta of 1.65. Latham Group has a 52-week low of $4.64 and a 52-week high of $8.97.

Latham Group (NASDAQ:SWIM - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $118.39 million. Latham Group had a return on equity of 2.13% and a net margin of 1.55%. As a group, analysts anticipate that Latham Group will post 0.18 EPS for the current 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source