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

Latham Group (NASDAQ:SWIM) had its target price upped by investment analysts at The Goldman Sachs Group from $3.00 to $5.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target suggests a potential downside of 15.68% from the stock’s previous close.

Several other research firms also recently commented on SWIM. Barclays increased their price objective on shares of Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Robert W. Baird boosted their price objective on shares of Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Stifel Nicolaus lifted their price target on shares of Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.62.

Latham Group Price Performance

NASDAQ:SWIM traded down $0.65 during trading hours on Wednesday, hitting $5.93. 1,050,353 shares of the company’s stock traded hands, compared to its average volume of 421,232. The business’s fifty day simple moving average is $6.50 and its two-hundred day simple moving average is $4.72. Latham Group has a 52 week low of $2.09 and a 52 week high of $7.33. The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.68. The firm has a market cap of $685.39 million, a P/E ratio of 65.78 and a beta of 1.88.

Latham Group (NASDAQ:SWIM) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 2.93% and a net margin of 2.24%. On average, research analysts anticipate that Latham Group will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Suraj Kunchala sold 10,139 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $5.06, for a total value of $51,303.34. Following the sale, the vice president now directly owns 38,748 shares of the company’s stock, valued at $196,064.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Oliver C. Gloe sold 10,216 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $6.44, for a total transaction of $65,791.04. Following the transaction, the chief financial officer now owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. 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 through the SEC website. Also, VP Suraj Kunchala sold 10,139 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $5.06, for a total transaction of $51,303.34. Following the transaction, the vice president now directly owns 38,748 shares in the company, valued at approximately $196,064.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,148 shares of company stock worth $507,155. 7.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Latham Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC grew its holdings in Latham Group by 32.1% during the third quarter. Los Angeles Capital Management LLC now owns 200,177 shares of the company’s stock valued at $1,361,000 after purchasing an additional 48,630 shares during the last quarter. BloombergSen Inc. grew its holdings in Latham Group by 64.2% during the third quarter. BloombergSen Inc. now owns 79,745 shares of the company’s stock valued at $542,000 after purchasing an additional 31,185 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Latham Group in the third quarter worth $697,000. Olympiad Research LP acquired a new stake in shares of Latham Group in the third quarter worth $160,000. Finally, Roubaix Capital LLC grew its stake in shares of Latham Group by 70.9% in the third 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. Institutional investors and hedge funds own 83.95% of the company’s stock.

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.