Latham Group (NASDAQ:SWIM) Price Target Raised to $8.80 at Stifel Nicolaus

Latham Group (NASDAQ:SWIM) had its price objective raised by Stifel Nicolaus from $7.70 to $8.80 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 13.99% from the company’s current price.

Several other brokerages have also commented on SWIM. Craig Hallum assumed coverage on shares of Latham Group in a research report on Monday. They set a “buy” rating and a $10.00 target price on the stock. Robert W. Baird upped their price target on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group raised their target price on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Latham Group has a consensus rating of “Hold” and an average target price of $6.65.

Latham Group Trading Down 7.5 %

Shares of Latham Group stock opened at $7.72 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67. Latham Group has a 12-month low of $2.11 and a 12-month high of $8.41. The company has a fifty day simple moving average of $6.58 and a 200-day simple moving average of $5.27. The stock has a market cap of $892.63 million, a price-to-earnings ratio of 85.78 and a beta of 1.84.

Insider Activity

In related news, CFO Oliver C. Gloe sold 10,216 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $6.44, for a total value 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 represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Sanjeev Bahl sold 11,750 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the sale, the chief operating officer now owns 262,811 shares in the company, valued at approximately $1,550,584.90. This trade represents a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,157 shares of company stock worth $320,189 in the last three months. 7.60% of the stock is owned by insiders.

Institutional Trading of Latham Group

A number of institutional investors and hedge funds have recently modified their holdings of SWIM. Principal Financial Group Inc. bought a new position in shares of Latham Group during the third quarter worth about $697,000. Thrivent Financial for Lutherans acquired a new stake in Latham Group in the 3rd quarter valued at about $635,000. Roubaix Capital LLC boosted its stake in shares of Latham Group by 70.9% during the 3rd 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 period. Vanguard Group Inc. increased its holdings in shares of Latham Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock valued at $8,234,000 after purchasing an additional 17,259 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Latham Group by 103.7% in the 2nd quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock valued at $1,269,000 after acquiring an additional 213,128 shares during the period. 83.95% of the stock is owned by institutional investors.

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.