Latham Group (NASDAQ:SWIM) Stock Price Down 10.1% – What’s Next?

Latham Group, Inc. (NASDAQ:SWIM) shares fell 10.1% during mid-day trading on Thursday . The stock traded as low as $6.42 and last traded at $6.47. 1,113,266 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 1,041,352 shares. The stock had previously closed at $7.20.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SWIM. Barclays raised their price target on shares of Latham Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Wednesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Latham Group in a research report on Monday, December 29th. Zacks Research raised shares of Latham Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday. William Blair restated an “outperform” rating on shares of Latham Group in a research report on Wednesday. Finally, Stifel Nicolaus lifted their price target on Latham Group from $8.75 to $9.50 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Latham Group has an average rating of “Hold” and a consensus target price of $7.33.

Latham Group Trading Down 2.5%

The company has a 50 day simple moving average of $6.57 and a 200 day simple moving average of $7.04. The company has a market capitalization of $735.65 million, a PE ratio of 70.00, a price-to-earnings-growth ratio of 1.16 and a beta of 1.70. 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) last released its earnings results on Tuesday, March 3rd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.03. The business had revenue of $99.95 million for the quarter, compared to the consensus estimate of $95.86 million. Latham Group had a return on equity of 2.79% and a net margin of 2.04%. Analysts anticipate that Latham Group, Inc. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in shares of Latham Group by 83.9% during the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock worth $27,000 after buying an additional 1,921 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in shares of Latham Group in the third quarter worth about $28,000. Raymond James Financial Inc. purchased a new position in shares of Latham Group in the second quarter worth about $29,000. Covestor Ltd boosted its position in Latham Group by 153.0% during the fourth quarter. Covestor Ltd now owns 5,576 shares of the company’s stock worth $35,000 after acquiring an additional 3,372 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Latham Group during the third quarter worth about $47,000. Hedge funds and other institutional investors 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.