Latham Group, Inc. (NASDAQ:SWIM) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Latham Group, Inc. (NASDAQ:SWIMGet Free Report) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $7.50.

Several brokerages have weighed in on SWIM. Barclays lowered their price target on shares of Latham Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings upgraded shares of Latham Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. The Goldman Sachs Group restated a “sell” rating on shares of Latham Group in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Latham Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Bank of America dropped their target price on shares of Latham Group from $7.00 to $6.00 and set an “underperform” rating for the company in a report on Monday, April 20th.

View Our Latest Stock Report on Latham Group

Insider Activity

In other Latham Group news, Director James E. Cline acquired 50,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $4.84 per share, for a total transaction of $242,000.00. Following the completion of the transaction, the director directly owned 100,000 shares of the company’s stock, valued at approximately $484,000. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Oliver C. Gloe acquired 15,050 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $4.90 per share, with a total value of $73,745.00. Following the purchase, the chief financial officer owned 540,758 shares of the company’s stock, valued at approximately $2,649,714.20. This trade represents a 2.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in shares of Latham Group by 216.4% during the 4th quarter. Wellington Management Group LLP now owns 6,749,349 shares of the company’s stock valued at $42,858,000 after purchasing an additional 4,616,367 shares during the last quarter. Citadel Advisors LLC grew its position in shares of Latham Group by 206.5% during the third quarter. Citadel Advisors LLC now owns 4,620,114 shares of the company’s stock valued at $35,159,000 after purchasing an additional 3,112,708 shares in the last quarter. 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 purchasing an additional 903,032 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Latham Group by 36.7% in 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 last quarter. Finally, Wasatch Advisors LP lifted its position in shares of Latham Group by 29.5% in the second quarter. Wasatch Advisors LP now owns 3,116,247 shares of the company’s stock worth $19,882,000 after buying an additional 709,368 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.

Latham Group Trading Up 5.2%

Shares of NASDAQ:SWIM opened at $5.64 on Tuesday. The stock has a 50 day moving average of $5.76 and a 200 day moving average of $5.94. The company has a market cap of $662.19 million, a PE ratio of 80.57, a price-to-earnings-growth ratio of 0.92 and a beta of 1.65. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 0.70. Latham Group has a 12-month low of $4.64 and a 12-month high of $8.97.

Latham Group (NASDAQ:SWIMGet Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Latham Group had a return on equity of 2.13% and a net margin of 1.55%.The firm had revenue of $117.31 million during the quarter, compared to analysts’ expectations of $118.39 million. As a group, equities research analysts expect that Latham Group will post 0.18 EPS for the current year.

Latham Group Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Latham Group (NASDAQ:SWIM)

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