Latham Group (NASDAQ:SWIM) Price Target Cut to $6.00 by Analysts at Bank of America

Key Points

• Bank of America cut its price target on Latham Group from $7.00 to $6.00 and kept an "underperform" rating, implying about a 5.36% downside from the prior close.
• Analyst sentiment is mixed—two Buy, two Hold and three Sell—with MarketBeat showing a consensus rating of "Reduce" and a consensus target of $6.75.
• Shares opened at $6.34; Latham has a market cap of ~$741.5M and recently beat quarterly estimates (EPS -$0.06 vs. -$0.09 and revenue $99.95M vs. $95.86M).

Latham Group (NASDAQ:SWIM - Get Free Report) had its target price dropped by stock analysts at Bank of America from $7.00 to $6.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Bank of America's target price would suggest a potential downside of 5.36% from the stock's previous close.

A number of other equities research analysts also recently weighed in on SWIM. Stifel Nicolaus lifted their price objective on Latham Group from $8.75 to $9.50 and gave the company a "buy" rating in a report on Wednesday, March 4th. Barclays decreased their price objective on Latham Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. Wall Street Zen downgraded Latham Group from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Latham Group in a report on Monday, December 29th. Finally, Zacks Research downgraded Latham Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 3rd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Latham Group has an average rating of "Reduce" and a consensus target price of $6.75.

Latham Group Price Performance

SWIM stock opened at $6.34 on Monday. Latham Group has a twelve month low of $4.56 and a twelve month high of $8.97. The company has a market cap of $741.53 million, a PE ratio of 70.44, a price-to-earnings-growth ratio of 2.27 and a beta of 1.75. The business's 50-day simple moving average is $6.12 and its 200 day simple moving average is $6.59. The company has a quick ratio of 1.82, a current ratio of 2.77 and a debt-to-equity ratio of 0.68.

Latham Group (NASDAQ:SWIM - Get Free Report) last released its earnings results on Tuesday, March 3rd. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.03. Latham Group had a return on equity of 2.79% and a net margin of 2.04%.The business had revenue of $99.95 million for the quarter, compared to the consensus estimate of $95.86 million. On average, research analysts anticipate that Latham Group will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in shares of Latham Group by 83.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company's stock worth $27,000 after acquiring an additional 1,921 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in shares of Latham Group in the 3rd quarter worth approximately $28,000. Raymond James Financial Inc. acquired a new position in shares of Latham Group in the 2nd quarter worth approximately $29,000. Covestor Ltd boosted its holdings in shares of Latham Group by 153.0% in the 4th quarter. Covestor Ltd now owns 5,576 shares of the company's stock worth $35,000 after acquiring an additional 3,372 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Latham Group in the 3rd quarter worth approximately $47,000. 83.95% of the stock is owned by institutional investors and hedge funds.

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.

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