Latham Group (NASDAQ:SWIM) Price Target Raised to $5.00

Latham Group (NASDAQ:SWIM) had its price target raised by The Goldman Sachs Group from $3.00 to $5.00 in a research note released on Wednesday,Benzinga reports. They currently have a sell rating on the stock.

SWIM has been the topic of several other reports. Barclays upped their price objective on shares of Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Robert W. Baird upped their price objective on shares of Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Latham Group presently has a consensus rating of “Hold” and a consensus price target of $5.62.

Latham Group Stock Performance

Latham Group stock traded down $0.24 during midday trading on Wednesday, reaching $5.84. The stock had a trading volume of 651,941 shares, compared to its average volume of 430,148. Latham Group has a 12 month low of $2.09 and a 12 month high of $7.33. The firm’s 50-day moving average price is $6.48 and its 200 day moving average price is $4.76. The firm has a market capitalization of $674.99 million, a PE ratio of 64.90 and a beta of 1.88. The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.68.

Latham Group (NASDAQ:SWIM) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. Latham Group had a return on equity of 2.86% and a net margin of 2.23%. The firm had revenue of $160.12 million for the quarter, compared to analysts’ expectations of $156.00 million. As a group, research analysts predict that Latham Group will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Scott Michael Rajeski sold 33,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.09, for a total transaction of $200,970.00. Following the completion of the transaction, the chief executive officer now owns 516,680 shares in the company, valued at $3,146,581.20. This 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 through this hyperlink. In related news, CFO Oliver C. Gloe sold 10,216 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $6.44, for a total transaction of $65,791.04. Following the sale, the chief financial officer now directly owns 282,706 shares of the company’s stock, valued at $1,820,626.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott Michael Rajeski sold 33,000 shares of the 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 sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,067 shares of company stock valued at $435,827. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Diversified Trust Co bought a new stake in Latham Group in the 2nd quarter worth approximately $34,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Latham Group by 69.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock worth $43,000 after purchasing an additional 4,484 shares during the period. Burns Matteson Capital Management LLC purchased a new position in shares of Latham Group in the 2nd quarter worth approximately $49,000. Ritholtz Wealth Management purchased a new position in shares of Latham Group in the 2nd quarter worth approximately $55,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Latham Group in the 1st quarter worth approximately $80,000. 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.