Latham Group (NASDAQ:SWIM) Reaches New 1-Year Low – Here’s Why

Latham Group, Inc. (NASDAQ:SWIM)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.01 and last traded at $5.01, with a volume of 1164120 shares trading hands. The stock had previously closed at $5.37.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. 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 research note on Wednesday, April 8th. William Blair restated an “outperform” rating on shares of Latham Group in a research note on Wednesday, March 4th. Stifel Nicolaus boosted their price target on Latham Group from $8.75 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, March 4th. The Goldman Sachs Group restated a “sell” rating on shares of Latham Group in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded Latham Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Latham Group has an average rating of “Hold” and an average target price of $7.50.

Latham Group Trading Down 6.7%

The stock has a 50 day moving average of $5.88 and a 200-day moving average of $6.43. The company has a market capitalization of $588.23 million, a P/E ratio of 71.57, a P/E/G ratio of 1.35 and a beta of 1.72. 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 (NASDAQ:SWIM) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The company had revenue of $117.32 million for the quarter, compared to the consensus estimate of $118.39 million. Latham Group had a net margin of 1.55% and a return on equity of 2.13%. On average, research analysts predict that Latham Group, Inc. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC lifted its holdings in Latham Group by 7.4% in the 1st quarter. Empowered Funds LLC now owns 405,207 shares of the company’s stock worth $2,605,000 after purchasing an additional 27,916 shares in the last quarter. Jane Street Group LLC lifted its holdings in Latham Group by 27.1% in the 1st quarter. Jane Street Group LLC now owns 24,894 shares of the company’s stock worth $160,000 after purchasing an additional 5,315 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Latham Group by 9.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company’s stock worth $140,000 after purchasing an additional 1,978 shares in the last quarter. Rhumbline Advisers lifted its holdings in Latham Group by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 63,639 shares of the company’s stock worth $406,000 after purchasing an additional 1,672 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings 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 currently 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.