Latham Group, Inc. (NASDAQ:SWIM – Get Free Report)’s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $5.01 and last traded at $5.01, with a volume of 1164120 shares changing hands. The stock had previously closed at $5.37.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “sell” rating on shares of Latham Group in a report on Wednesday, May 6th. William Blair reissued an “outperform” rating on shares of Latham Group in a research report on Wednesday, March 4th. Bank of America lowered their price target on Latham Group from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Barclays cut 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. Finally, Zacks Research lowered Latham Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Latham Group currently has an average rating of “Hold” and a consensus target price of $7.50.
Check Out Our Latest Research Report on SWIM
Latham Group Trading Up 2.3%
Latham Group (NASDAQ:SWIM – Get Free Report) last released its quarterly earnings data 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 company had revenue of $117.32 million for the quarter, compared to analyst estimates of $118.39 million. As a group, research analysts anticipate that Latham Group, Inc. will post 0.18 EPS for the current year.
Institutional Trading of Latham Group
Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Latham Group by 216.4% during the fourth 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 in the last quarter. Citadel Advisors LLC boosted its holdings in shares of Latham Group by 206.5% in the 3rd quarter. Citadel Advisors LLC now owns 4,620,114 shares of the company’s stock worth $35,159,000 after acquiring an additional 3,112,708 shares in the last quarter. CAS Investment Partners LLC bought a new stake in Latham Group during the 3rd quarter worth approximately $7,610,000. UBS Group AG increased its holdings in Latham Group by 1,709.2% during the 4th quarter. UBS Group AG now owns 955,867 shares of the company’s stock valued at $6,070,000 after purchasing an additional 903,032 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Latham Group by 36.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,257,228 shares of the company’s stock valued at $24,788,000 after purchasing an additional 873,903 shares in the last quarter. 83.95% of the stock is owned by institutional investors.
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.
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