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

Latham Group (NASDAQ:SWIM) had its price objective upped by research analysts at The Goldman Sachs Group from $3.00 to $5.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 17.76% from the company’s current price.

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

Latham Group Price Performance

Shares of SWIM stock opened at $6.08 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.22 and a quick ratio of 2.15. The firm’s 50-day moving average is $6.49 and its two-hundred day moving average is $4.73. Latham Group has a 12 month low of $2.09 and a 12 month high of $7.33. The company has a market capitalization of $702.71 million, a PE ratio of 69.11 and a beta of 1.88.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The business had revenue of $160.12 million for the quarter, compared to the consensus estimate of $156.00 million. Latham Group had a net margin of 2.24% and a return on equity of 2.93%. Analysts predict that Latham Group will post -0.03 earnings per share for the current year.

Insider Activity at Latham Group

In related news, CEO Scott Michael Rajeski sold 25,851 shares of Latham Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $6.54, for a total value of $169,065.54. Following the completion of the transaction, the chief executive officer now owns 490,829 shares in the company, valued at approximately $3,210,021.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Scott Michael Rajeski sold 25,851 shares of Latham Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $6.54, for a total value of $169,065.54. Following the completion of the transaction, the chief executive officer now owns 490,829 shares in the company, valued at approximately $3,210,021.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Oliver C. Gloe sold 10,216 shares of Latham Group 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 completion of the transaction, the chief financial officer now owns 282,706 shares of the company’s stock, valued at $1,820,626.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,067 shares of company stock worth $435,827. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co acquired a new position in Latham Group during the 2nd quarter worth approximately $34,000. Public Employees Retirement System of Ohio grew its holdings in Latham Group by 69.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock worth $43,000 after acquiring an additional 4,484 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new position in Latham Group during the 2nd quarter worth approximately $49,000. Ritholtz Wealth Management acquired a new position in Latham Group during the 2nd quarter worth approximately $55,000. Finally, Lazard Asset Management LLC acquired a new position in Latham Group during the 1st quarter worth approximately $80,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

About Latham Group

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.