Latham Group, Inc. (NASDAQ:SWIM) Receives Average Rating of “Hold” from Analysts

Latham Group, Inc. (NASDAQ:SWIM) has received an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $6.65.

Several equities analysts have recently issued reports on SWIM shares. Stifel Nicolaus upped their price objective on shares of Latham Group from $7.70 to $8.80 and gave the company a “buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group increased their price target on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Robert W. Baird raised their price target on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Craig Hallum initiated coverage on Latham Group in a research report on Monday, December 9th. They issued a “buy” rating and a $10.00 price objective for the company.

Latham Group Stock Down 6.3 %

Shares of NASDAQ:SWIM opened at $6.52 on Friday. The company has a 50 day moving average price of $6.65 and a two-hundred day moving average price of $5.62. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44. The company has a market capitalization of $753.88 million, a PE ratio of 72.45 and a beta of 1.84. Latham Group has a 52 week low of $2.11 and a 52 week high of $8.41.

Insider Activity

In related news, CEO Scott Michael Rajeski sold 22,191 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $8.34, for a total value of $185,072.94. Following the completion of the transaction, the chief executive officer now owns 480,829 shares of the company’s stock, valued at approximately $4,010,113.86. This trade represents a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Oliver C. Gloe sold 10,216 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $6.44, for a total transaction of $65,791.04. Following the sale, the chief financial officer now directly owns 282,706 shares in the company, valued at $1,820,626.64. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,157 shares of company stock worth $320,189 over the last three months. Corporate insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Several hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new stake in Latham Group during the third quarter worth about $697,000. Thrivent Financial for Lutherans bought a new stake in shares of Latham Group during the 3rd quarter worth approximately $635,000. Roubaix Capital LLC boosted its holdings in shares of Latham Group by 70.9% in the 3rd quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock valued at $5,178,000 after buying an additional 315,889 shares during the last quarter. FMR LLC grew its stake in shares of Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after buying an additional 3,123 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Latham Group by 103.7% during the second quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock worth $1,269,000 after buying an additional 213,128 shares during the last quarter. Institutional investors 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.