Latham Group (NASDAQ:SWIM) Given New $7.50 Price Target at Robert W. Baird

Latham Group (NASDAQ:SWIM) had its target price raised by Robert W. Baird from $5.50 to $7.50 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on the company. Stifel Nicolaus raised their price target on Latham Group from $6.80 to $7.00 and gave the company a “buy” rating in a report on Monday, September 16th. Barclays raised their target price on shares of Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Latham Group presently has an average rating of “Hold” and an average price target of $5.62.

Latham Group Stock Performance

Latham Group stock opened at $5.81 on Wednesday. Latham Group has a 1-year low of $2.09 and a 1-year high of $7.33. The company has a current ratio of 3.22, a quick ratio of 2.15 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $671.52 million, a PE ratio of 64.56 and a beta of 1.88. The firm’s 50 day simple moving average is $6.50 and its 200 day simple moving average is $4.72.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. The firm had revenue of $160.12 million for the quarter, compared to analysts’ expectations of $156.00 million. Latham Group had a net margin of 2.24% and a return on equity of 2.93%. As a group, analysts expect that Latham Group will post -0.03 earnings per share for the current fiscal year.

Insider Activity at Latham Group

In other Latham Group news, CEO Scott Michael Rajeski sold 33,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $6.09, for a total transaction of $200,970.00. Following the transaction, the chief executive officer now directly owns 516,680 shares in the company, valued at $3,146,581.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Latham Group news, CEO Scott Michael Rajeski sold 33,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $6.09, for a total value of $200,970.00. Following the completion of the sale, the chief executive officer now directly owns 516,680 shares of the company’s stock, valued at $3,146,581.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Oliver C. Gloe sold 10,216 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $6.44, for a total transaction of $65,791.04. Following the sale, the chief financial officer now owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,148 shares of company stock valued at $507,155. Corporate insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Latham Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock worth $8,234,000 after purchasing an additional 17,259 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Latham Group by 21.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock worth $4,067,000 after acquiring an additional 234,930 shares during the last quarter. Roubaix Capital LLC grew its holdings in Latham Group by 70.9% in the 3rd quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock worth $5,178,000 after acquiring an additional 315,889 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Latham Group by 11.2% in the second quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock valued at $2,093,000 after acquiring an additional 69,356 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Latham Group by 103.7% during the second quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock valued at $1,269,000 after acquiring an additional 213,128 shares during the last quarter. 83.95% of the stock is owned by hedge funds and other institutional investors.

Latham Group Company Profile

Latham Group, Inc designs, manufactures, and markets in-ground residential swimming pools in North America, Australia, and New Zealand. It offers a portfolio of pools and related products, including in-ground swimming pools that include fiber glass and packaged pools; and pool covers and liners under the Latham, Narellan, CoverStar, Radiant, and GLI brand names.