Latham Group (NASDAQ:SWIM) Price Target Raised to $5.00 at The Goldman Sachs Group

by · The Markets Daily

Latham Group (NASDAQ:SWIM – Free Report) had its price target hoisted by The Goldman Sachs Group from $3.00 to $5.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a sell rating on the stock.

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

Check Out Our Latest Stock Report on SWIM

Latham Group Trading Down 11.7 %

SWIM stock opened at $5.81 on Wednesday. Latham Group has a twelve month low of $2.09 and a twelve month high of $7.33. The stock has a market capitalization of $671.52 million, a price-to-earnings ratio of 64.56 and a beta of 1.88. 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’s fifty day simple moving average is $6.50 and its two-hundred day simple moving average is $4.72.

Latham Group (NASDAQ:SWIM – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $160.12 million for the quarter, compared to analyst estimates of $156.00 million. Latham Group had a net margin of 2.24% and a return on equity of 2.93%. As a group, analysts anticipate that Latham Group will post -0.03 earnings per share for the current year.

Insider Activity at Latham Group

In other Latham Group news, CEO Scott Michael Rajeski sold 33,000 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $6.09, for a total transaction of $200,970.00. Following the transaction, the chief executive officer now directly owns 516,680 shares in the company, valued at $3,146,581.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Suraj Kunchala sold 10,139 shares of Latham Group stock in a transaction on Friday, August 9th. The stock was sold at an average price of $5.06, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Michael Rajeski sold 33,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.09, for a total value of $200,970.00. Following the sale, the chief executive officer now owns 516,680 shares of the company’s stock, valued at $3,146,581.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,148 shares of company stock worth $507,155 over the last three months. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Latham Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Latham Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock valued at $8,234,000 after buying an additional 17,259 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Latham Group by 21.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock valued at $4,067,000 after acquiring an additional 234,930 shares during the last quarter. Roubaix Capital LLC boosted its stake in Latham Group by 70.9% in the third quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock valued at $5,178,000 after acquiring an additional 315,889 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Latham Group by 11.2% in the second quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock worth $2,093,000 after purchasing an additional 69,356 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Latham Group by 103.7% in the second quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock worth $1,269,000 after purchasing an additional 213,128 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Latham Group Company Profile

(Get Free Report)

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.

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