Latham Group, Inc. (NASDAQ:SWIM) Stock Now Rated “Reduce” by Sell-Side Analysts

Latham Group, Inc. (NASDAQ:SWIM) has been assigned a consensus recommendation of “Reduce” from the seven ratings firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $7.83.

A number of equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Latham Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Barclays lifted their price objective on shares of Latham Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Zacks Research downgraded shares of Latham Group from a “hold” rating to a “strong sell” rating in a research note on Friday, October 9th. William Blair lowered Latham Group from an “outperform” rating to a “market perform” rating in a report on Thursday, October 8th. Finally, The Goldman Sachs Group restated a “sell” rating on shares of Latham Group in a report on Monday, October 12th.

Latham Group Stock Up 1.5%

Shares of Latham Group stock opened at $6.64 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.16 and a quick ratio of 1.44. Latham Group has a 1 year low of $4.64 and a 1 year high of $8.97. The firm’s 50-day moving average is $6.54 and its two-hundred day moving average is $6.08. The stock has a market cap of $781.17 million, a price-to-earnings ratio of 132.80, a PEG ratio of 1.45 and a beta of 1.66.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in shares of Latham Group by 24.0% during the 2nd quarter. Wellington Management Group LLP now owns 11,364,049 shares of the company’s stock worth $73,525,000 after purchasing an additional 2,201,843 shares during the last quarter. BlackRock Inc. bought a new stake in Latham Group during the second quarter valued at about $23,532,000. Dimensional Fund Advisors LP boosted its position in Latham Group by 16.2% during the first quarter. Dimensional Fund Advisors LP now owns 3,370,146 shares of the company’s stock valued at $18,096,000 after purchasing an additional 470,123 shares in the last quarter. Formula Growth Ltd. purchased a new position in Latham Group in the second quarter valued at about $8,897,000. Finally, Emerald Advisers LLC grew its stake in Latham Group by 3.2% in the first quarter. Emerald Advisers LLC now owns 1,006,795 shares of the company’s stock valued at $5,406,000 after purchasing an additional 31,091 shares during the last quarter. 83.95% of the stock is owned by institutional investors.

Latham Group Company Profile

Latham Group, Inc designs, manufactures and markets residential swimming pool products. The company is best known for its in-ground fiberglass pools, which are manufactured as pre-formed shells and installed at residential properties. Its product portfolio also includes vinyl pool liners, automatic and safety pool covers, pool walls, steps, stairs and related components.

Latham serves the residential swimming pool construction and renovation markets through a network of dealers, builders and distributors.