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

Latham Group (NASDAQ:SWIM) had its target price hoisted by Barclays from $7.00 to $8.00 in a report issued on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

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

Latham Group Price Performance

Latham Group stock opened at $7.83 on Monday. The business’s fifty day moving average is $6.02 and its two-hundred day moving average is $5.97. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 2.16. The firm has a market cap of $921.20 million, a P/E ratio of 156.60, a P/E/G ratio of 1.65 and a beta of 1.65. Latham Group has a 52 week low of $4.64 and a 52 week high of $8.97.

Latham Group (NASDAQ:SWIM) last announced its earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The business had revenue of $197.47 million during the quarter, compared to analyst estimates of $188.39 million. Latham Group had a net margin of 0.92% and a return on equity of 1.31%. Equities research analysts forecast that Latham Group will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In other Latham Group news, Director James E. Cline purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired 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 directly owned 100,000 shares in the company, valued at approximately $484,000. This represents a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Oliver C. Gloe acquired 15,050 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $4.90 per share, for a total transaction of $73,745.00. Following the completion of the acquisition, the chief financial officer directly owned 540,758 shares of the company’s stock, valued at $2,649,714.20. This trade represents a 2.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.32% of the stock is currently owned by company insiders.

Institutional Trading of Latham Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position 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 purchasing an additional 1,921 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Latham Group in the second quarter valued at about $29,000. Summit Securities Group LLC acquired a new position in Latham Group in the first quarter valued at about $30,000. Covestor Ltd lifted its stake in Latham Group by 153.0% in the fourth quarter. Covestor Ltd now owns 5,576 shares of the company’s stock valued at $35,000 after buying an additional 3,372 shares during the period. Finally, State of Wyoming bought a new position in Latham Group during the fourth quarter worth about $55,000. 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.