Latham Group, Inc. (NASDAQ:SWIM) Stock Rated “Reduce” by Wall Street Analysts

Shares of Latham Group, Inc. (NASDAQ:SWIM) have earned a consensus recommendation of “Reduce” from the seven brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $7.83.

Several analysts have commented on SWIM shares. William Blair cut shares of Latham Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 8th. Barclays lifted their target price on Latham Group from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Zacks Research downgraded Latham Group from a “hold” rating to a “strong sell” rating in a research report on Friday, October 9th. Weiss Ratings raised Latham Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Finally, The Goldman Sachs Group reissued a “sell” rating on shares of Latham Group in a research note on Monday, October 12th.

Latham Group Trading Down 2.1%

SWIM stock opened at $6.12 on Friday. Latham Group has a 1-year low of $4.64 and a 1-year high of $8.97. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.16 and a quick ratio of 1.44. The company has a market capitalization of $720.02 million, a price-to-earnings ratio of 122.40, a PEG ratio of 1.33 and a beta of 1.66. The business has a 50 day simple moving average of $6.65 and a two-hundred day simple moving average of $6.04.

Latham Group (NASDAQ:SWIM) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The company had revenue of $197.47 million for the quarter, compared to analysts’ expectations of $188.39 million. Latham Group had a net margin of 0.92% and a return on equity of 1.31%. Research analysts anticipate that Latham Group will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SWIM. Wellington Management Group LLP grew its position in Latham Group by 24.0% in the second quarter. Wellington Management Group LLP now owns 11,364,049 shares of the company’s stock worth $73,525,000 after acquiring an additional 2,201,843 shares in the last quarter. BlackRock Inc. bought a new stake in Latham Group during the second quarter worth approximately $23,532,000. Dimensional Fund Advisors LP raised its position in Latham Group by 16.2% during the first quarter. Dimensional Fund Advisors LP now owns 3,370,146 shares of the company’s stock valued at $18,096,000 after purchasing an additional 470,123 shares during the period. Formula Growth Ltd. purchased a new stake in Latham Group during the second quarter valued at approximately $8,897,000. Finally, Emerald Advisers LLC raised its position in Latham Group by 3.2% during the first quarter. Emerald Advisers LLC now owns 1,006,795 shares of the company’s stock valued at $5,406,000 after purchasing an additional 31,091 shares during the period. Institutional investors own 83.95% of the company’s stock.

Latham Group Company Profile

Latham Group, Inc is a manufacturer and marketer of residential swimming pool products. The company focuses primarily on the in-ground pool market and supplies products used in the construction, renovation and maintenance of swimming pools.

Its product portfolio includes fiberglass pool shells, vinyl pool liners, automatic safety covers and related pool components and accessories. Latham sells its products through a network of dealers, builders and distributors, serving both new pool construction and replacement and remodeling demand.

The company serves customers primarily in North America, with operations and sales activities in the United States and Canada, as well as in Australia and New Zealand.