Latham Group (NASDAQ:SWIM) Stock Price Expected to Rise, Barclays Analyst Says

Latham Group (NASDAQ:SWIM) had its target price boosted by analysts at Barclays from $7.00 to $8.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 6.95% from the stock’s current price.

A number of other equities research analysts have also weighed in on SWIM. Bank of America cut their price objective on Latham Group from $7.00 to $6.00 and set an “underperform” rating on the stock in a research report on Monday, April 20th. The Goldman Sachs Group reiterated a “sell” rating on shares of Latham Group in a research note on Wednesday, May 6th. Wall Street Zen downgraded Latham Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Latham Group in a research report on Tuesday, August 4th. Finally, Zacks Research downgraded shares of Latham Group from a “hold” rating to a “strong sell” rating in a research report on Thursday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Latham Group currently has an average rating of “Reduce” and an average target price of $7.83.

Latham Group Stock Performance

NASDAQ SWIM opened at $7.48 on Monday. The company has a market capitalization of $880.02 million, a price-to-earnings ratio of 149.60, a PEG ratio of 1.53 and a beta of 1.65. The company has a quick ratio of 1.44, a current ratio of 2.16 and a debt-to-equity ratio of 0.67. Latham Group has a twelve month low of $4.64 and a twelve month high of $8.97. The stock’s 50-day simple moving average is $5.89 and its two-hundred day simple moving average is $5.95.

Latham Group (NASDAQ:SWIM) last released its earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). Latham Group had a net margin of 0.92% and a return on equity of 1.31%. The business had revenue of $197.47 million for the quarter, compared to the consensus estimate of $188.39 million. Research analysts forecast that Latham Group will post 0.17 EPS for the current fiscal year.

Insider Activity

In related news, CFO Oliver C. Gloe purchased 15,050 shares of Latham Group stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $4.90 per share, for a total transaction of $73,745.00. Following the completion of the transaction, the chief financial officer directly owned 540,758 shares in the company, valued at $2,649,714.20. This represents a 2.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James E. Cline acquired 50,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were bought 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 owned 100,000 shares in the company, valued at approximately $484,000. This represents a 100.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.32% of the company’s stock.

Institutional Trading of Latham Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in shares of Latham Group by 2.7% during the second quarter. Rhumbline Advisers now owns 63,639 shares of the company’s stock valued at $406,000 after buying an additional 1,672 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Latham Group by 5.1% during the fourth quarter. Deutsche Bank AG now owns 35,682 shares of the company’s stock worth $227,000 after acquiring an additional 1,721 shares during the last quarter. Squarepoint Ops LLC grew its stake in Latham Group by 5.5% during the third quarter. Squarepoint Ops LLC now owns 35,978 shares of the company’s stock valued at $274,000 after acquiring an additional 1,873 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Latham Group by 83.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock valued at $27,000 after acquiring an additional 1,921 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake 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. Institutional investors own 83.95% of the company’s stock.

Latham Group Company Profile

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.