Latham Group (NASDAQ:SWIM) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Latham Group (NASDAQ:SWIM) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

SWIM has been the subject of a number of other research reports. Stifel Nicolaus boosted their target price on Latham Group from $8.75 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Latham Group in a report on Monday, December 29th. Zacks Research downgraded Latham Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. William Blair restated an “outperform” rating on shares of Latham Group in a report on Wednesday, March 4th. Finally, Barclays decreased their price target on Latham Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Latham Group currently has an average rating of “Hold” and a consensus price target of $7.00.

Latham Group Price Performance

Shares of NASDAQ SWIM opened at $5.75 on Friday. The firm has a market capitalization of $672.52 million, a P/E ratio of 63.89, a PEG ratio of 2.06 and a beta of 1.75. Latham Group has a one year low of $4.56 and a one year high of $8.97. The company’s fifty day moving average is $6.16 and its two-hundred day moving average is $6.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.82 and a current ratio of 2.77.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. Latham Group had a return on equity of 2.79% and a net margin of 2.04%.The business had revenue of $99.95 million during the quarter, compared to the consensus estimate of $95.86 million. Analysts forecast that Latham Group will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Latham Group

Several large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its stake in Latham Group by 7.4% during the first 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 boosted its position in shares of Latham Group by 27.1% during the 1st quarter. Jane Street Group LLC now owns 24,894 shares of the company’s stock valued at $160,000 after purchasing an additional 5,315 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Latham Group by 9.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company’s stock valued at $140,000 after purchasing an additional 1,978 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Latham Group by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 63,639 shares of the company’s stock valued at $406,000 after purchasing an additional 1,672 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Latham Group by 12.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,096 shares of the company’s stock worth $115,000 after purchasing an additional 2,038 shares in the last quarter. 83.95% of the stock is owned by institutional investors and hedge funds.

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.