Latham Group (NASDAQ:SWIM) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Latham Group (NASDAQ:SWIM) from a "buy" to a "hold"; the analyst split is two Buy / two Hold / two Sell, leaving a MarketBeat consensus rating of Hold and a consensus price target of $7.00.
• Shares opened at $5.75 (50-day / 200-day MAs $6.16 / $6.65) with a market cap of $672.5M; the company beat the quarter with EPS of ($0.06) vs. ($0.09) expected and revenue of $99.95M, and about 84% of the stock is institutionally owned.

Latham Group (NASDAQ:SWIM - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday.

Other equities analysts have also issued research reports about the stock. Zacks Research lowered shares of Latham Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 3rd. William Blair restated an "outperform" rating on shares of Latham Group in a research report on Wednesday, March 4th. Stifel Nicolaus boosted their price target on shares of Latham Group from $8.75 to $9.50 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. Weiss Ratings restated a "sell (d)" rating on shares of Latham Group in a research report on Monday, December 29th. Finally, Barclays dropped their price target 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. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.00.

Latham Group Price Performance

Latham Group stock opened at $5.75 on Friday. The firm has a 50 day moving average price of $6.16 and a 200 day moving average price of $6.65. Latham Group has a 1 year low of $4.56 and a 1 year high of $8.97. The company has a market cap of $672.52 million, a price-to-earnings ratio of 63.89, a PEG ratio of 2.06 and a beta of 1.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.82 and a current ratio of 2.77.

Latham Group (NASDAQ:SWIM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. Latham Group had a net margin of 2.04% and a return on equity of 2.79%. The company had revenue of $99.95 million for the quarter, compared to analyst estimates of $95.86 million. Sell-side analysts predict that Latham Group will post -0.04 earnings per share for the current year.

Institutional Trading of Latham Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new stake in shares of Latham Group during the 3rd quarter worth about $28,000. BNP Paribas Financial Markets boosted its position 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 purchasing an additional 1,921 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Latham Group during the 2nd quarter valued at about $29,000. Covestor Ltd boosted its position in shares of Latham Group by 153.0% during the 4th quarter. Covestor Ltd now owns 5,576 shares of the company's stock valued at $35,000 after purchasing an additional 3,372 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Latham Group during the 3rd quarter valued at about $47,000. 83.95% of the stock is currently owned by institutional investors.

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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