Latham Group (NASDAQ:SWIM) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Latham Group (NASDAQ:SWIM) from a "hold" to a "strong-buy", but analyst coverage is mixed with MarketBeat showing an overall average rating of "Hold" and an average price target of $7.33.
• Latham beat estimates in its most recent quarter, reporting EPS of ($0.06) versus a ($0.09) consensus and revenue of $99.95M versus $95.86M, while analysts expect FY EPS of -0.04.
• Shares opened at $6.30 (52‑week range $4.56–$8.97) with a market cap of $735.6M and a P/E of 70.0, and institutional investors own about 83.95% of the stock.

Latham Group (NASDAQ:SWIM - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

A number of other analysts also recently weighed in on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Latham Group in a research report on Monday, December 29th. Stifel Nicolaus lifted their target price on Latham Group from $8.75 to $9.50 and gave the company a "buy" rating in a research note on Wednesday. Barclays upped their target price on Latham Group from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, William Blair reaffirmed an "outperform" rating on shares of Latham Group in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $7.33.

Latham Group Price Performance

Latham Group stock opened at $6.30 on Thursday. Latham Group has a one year low of $4.56 and a one year high of $8.97. The company has a market cap of $735.65 million, a P/E ratio of 70.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.70. The business has a fifty day moving average of $6.57 and a two-hundred day moving average of $7.04. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.72 and a current ratio of 2.77.

Latham Group (NASDAQ:SWIM - Get Free Report) last released its earnings results on Tuesday, March 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. As a group, analysts predict that Latham Group will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Latham Group

A number of hedge funds have recently made changes to their positions in SWIM. Empowered Funds LLC boosted its stake in Latham Group by 7.4% in the 1st quarter. Empowered Funds LLC now owns 405,207 shares of the company's stock valued at $2,605,000 after buying an additional 27,916 shares in the last quarter. Jane Street Group LLC raised its stake in Latham Group by 27.1% during the first quarter. Jane Street Group LLC now owns 24,894 shares of the company's stock worth $160,000 after acquiring an additional 5,315 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in Latham Group by 94.2% during the second quarter. Y Intercept Hong Kong Ltd now owns 48,345 shares of the company's stock worth $308,000 after acquiring an additional 23,452 shares in the last quarter. Atria Investments Inc bought a new position in shares of Latham Group during the second quarter valued at $280,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Latham Group during the second quarter valued at $66,000. Institutional investors and hedge funds own 83.95% of the company's stock.

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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