Latham Group (NASDAQ:SWIM) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Latham Group (NASDAQ:SWIM) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Latham Group in a report on Monday, December 29th. Stifel Nicolaus lifted their target price on shares of Latham Group from $8.75 to $9.50 and gave the stock a “buy” rating in a report on Wednesday. Barclays upped their target price 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. Finally, William Blair restated an “outperform” rating on shares of Latham Group in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Latham Group currently has an average rating of “Hold” and a consensus price target of $7.33.

Latham Group Stock Performance

Shares of NASDAQ:SWIM opened at $6.30 on Thursday. The company has a current ratio of 2.77, a quick ratio of 1.72 and a debt-to-equity ratio of 0.68. Latham Group has a 1-year low of $4.56 and a 1-year high of $8.97. The stock has a market capitalization of $735.65 million, a P/E ratio of 70.00, a P/E/G ratio of 1.16 and a beta of 1.70. The business has a 50-day moving average price of $6.57 and a two-hundred day moving average price of $7.04.

Latham Group (NASDAQ:SWIM) last issued its earnings results on Tuesday, March 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities analysts predict that Latham Group will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Latham Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Latham Group by 216.4% during the 4th quarter. Wellington Management Group LLP now owns 6,749,349 shares of the company’s stock worth $42,858,000 after buying an additional 4,616,367 shares during the period. Citadel Advisors LLC grew its stake in Latham Group by 206.5% in the third quarter. Citadel Advisors LLC now owns 4,620,114 shares of the company’s stock valued at $35,159,000 after acquiring an additional 3,112,708 shares during the period. CAS Investment Partners LLC bought a new stake in shares of Latham Group in the third quarter worth about $7,610,000. UBS Group AG increased its holdings in shares of Latham Group by 1,709.2% in the fourth quarter. UBS Group AG now owns 955,867 shares of the company’s stock worth $6,070,000 after acquiring an additional 903,032 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Latham Group by 36.7% during the third quarter. Vanguard Group Inc. now owns 3,257,228 shares of the company’s stock worth $24,788,000 after purchasing an additional 873,903 shares during the period. 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.