Latham Group, Inc. (NASDAQ:SWIM) Given Average Recommendation of “Reduce” by Brokerages

Shares of Latham Group, Inc. (NASDAQ:SWIM) have earned an average recommendation of “Reduce” from the seven ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.8333.

SWIM has been the topic of several analyst reports. Zacks Research lowered shares of Latham Group from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. Bank of America dropped their target price on shares of Latham Group from $7.00 to $6.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Barclays increased their price target on Latham Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday. Weiss Ratings restated a “hold (c-)” rating on shares of Latham Group in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating on shares of Latham Group in a research note on Wednesday, May 6th.

Latham Group Stock Performance

Shares of NASDAQ:SWIM opened at $7.31 on Tuesday. The stock has a market capitalization of $860.02 million, a P/E ratio of 146.20, a P/E/G ratio of 1.53 and a beta of 1.65. Latham Group has a 1-year low of $4.64 and a 1-year high of $8.97. The company has a current ratio of 2.16, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $5.93 and a two-hundred day moving average price of $5.96.

Latham Group (NASDAQ:SWIM) last issued its earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share (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 during the quarter, compared to the consensus estimate of $188.39 million. Equities analysts predict that Latham Group will post 0.17 earnings per share for the current year.

Insider Transactions at Latham Group

In related news, CFO Oliver C. Gloe bought 15,050 shares of Latham Group stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $4.90 per share, for a total transaction of $73,745.00. Following the completion of the acquisition, the chief financial officer owned 540,758 shares in the company, valued at approximately $2,649,714.20. This represents a 2.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James E. Cline purchased 50,000 shares of the stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $4.84 per share, with a total value of $242,000.00. Following the completion of the purchase, the director owned 100,000 shares in the company, valued at $484,000. The trade was a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Latham Group

Large investors have recently bought and sold shares of the company. Empowered Funds LLC raised its holdings in Latham Group by 7.4% in the first 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 during the period. Jane Street Group LLC grew its holdings in shares of Latham Group by 27.1% in the 1st quarter. Jane Street Group LLC now owns 24,894 shares of the company’s stock valued at $160,000 after buying an additional 5,315 shares during the period. JPMorgan Chase & Co. increased its position in shares of Latham Group by 9.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company’s stock valued at $140,000 after buying an additional 1,978 shares in the last quarter. Rhumbline Advisers increased its position in shares of Latham Group by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 63,639 shares of the company’s stock valued at $406,000 after buying an additional 1,672 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Latham Group by 12.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,096 shares of the company’s stock worth $115,000 after buying an additional 2,038 shares during the period. 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.