Latham Group (NASDAQ:SWIM) Price Target Raised to $8.00 at Barclays

Key Points

• Barclays raised Latham Group’s price target to $8.00 from $7.00 while maintaining an “equal weight” rating, implying about 6.95% upside from the reported $7.48 share price.
• Analyst sentiment remains cautious: Latham has an average “Reduce” rating and a consensus target price of $7.83, with two Buy, two Hold, and three Sell ratings.
• The company beat quarterly revenue expectations with $197.47 million but missed on earnings, reporting $0.11 EPS versus the $0.16 consensus estimate. Directors and the CFO recently purchased company shares, while institutional investors own 83.95% of the stock.

Latham Group (NASDAQ:SWIM - Get Free Report) had its price target upped by stock analysts at Barclays from $7.00 to $8.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price target would suggest a potential upside of 6.95% from the company's current price.

Several other research analysts have also weighed in on SWIM. Zacks Research lowered Latham Group from a "hold" rating to a "strong sell" rating in a research report on Thursday. Wall Street Zen cut Latham Group from a "buy" rating to a "hold" rating in a report on Sunday, April 12th. Weiss Ratings restated a "hold (c-)" rating on shares of Latham Group in a research note on Tuesday, August 4th. Bank of America lowered their price objective on Latham Group from $7.00 to $6.00 and set an "underperform" rating on the stock in a research note on Monday, April 20th. Finally, The Goldman Sachs Group restated a "sell" rating on shares of Latham Group in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $7.83.

Latham Group Price Performance

Shares of SWIM stock opened at $7.48 on Monday. The firm has a fifty day moving average of $5.89 and a 200-day moving average of $5.95. Latham Group has a 12-month low of $4.64 and a 12-month high of $8.97. The company has a market capitalization of $880.02 million, a price-to-earnings ratio of 149.60, a P/E/G ratio of 1.53 and a beta of 1.65. The company has a quick ratio of 1.44, a current ratio of 2.16 and a debt-to-equity ratio of 0.67.

Latham Group (NASDAQ:SWIM - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). Latham Group had a net margin of 0.92% and a return on equity of 1.31%. The firm had revenue of $197.47 million during the quarter, compared to the consensus estimate of $188.39 million. As a group, equities research analysts predict that Latham Group will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Latham Group

In related news, Director James E. Cline purchased 50,000 shares of the firm's stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $4.84 per share, with a total value of $242,000.00. Following the completion of the purchase, the director owned 100,000 shares in the company, valued at approximately $484,000. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Oliver C. Gloe bought 15,050 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased 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 in the company, valued at $2,649,714.20. This represents a 2.86% 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 Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Rhumbline Advisers raised its stake in shares of Latham Group by 2.7% during 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 during the period. Deutsche Bank AG lifted its position in shares of Latham Group by 5.1% during the fourth quarter. Deutsche Bank AG now owns 35,682 shares of the company's stock worth $227,000 after acquiring an additional 1,721 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Latham Group by 5.5% during the 3rd quarter. Squarepoint Ops LLC now owns 35,978 shares of the company's stock valued at $274,000 after purchasing an additional 1,873 shares during the period. BNP Paribas Financial Markets lifted its holdings in Latham Group by 83.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company's stock worth $27,000 after purchasing an additional 1,921 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Latham Group by 9.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company's stock worth $140,000 after purchasing an additional 1,978 shares during the period. Institutional investors own 83.95% of the company's stock.

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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