Latham Group (NASDAQ:SWIM) Issues Earnings Results, Misses Expectations By $0.02 EPS

Latham Group (NASDAQ:SWIM) released its quarterly earnings data on Tuesday. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02), FiscalAI reports. Latham Group had a net margin of 2.04% and a return on equity of 2.79%. The company had revenue of $117.32 million during the quarter, compared to the consensus estimate of $118.39 million.

Latham Group Trading Up 1.0%

Shares of SWIM traded up $0.06 during trading hours on Tuesday, reaching $5.86. The stock had a trading volume of 607,218 shares, compared to its average volume of 874,470. The company has a quick ratio of 1.82, a current ratio of 2.77 and a debt-to-equity ratio of 0.68. Latham Group has a 52 week low of $5.04 and a 52 week high of $8.97. The firm has a 50-day moving average of $6.00 and a 200 day moving average of $6.50. The company has a market cap of $685.39 million, a P/E ratio of 65.11, a P/E/G ratio of 2.54 and a beta of 1.72.

Institutional Trading of Latham Group

A number of large investors have recently made changes to their positions in SWIM. Empowered Funds LLC increased its position in shares of Latham Group by 7.4% in the 1st quarter. Empowered Funds LLC now owns 405,207 shares of the company’s stock valued at $2,605,000 after buying an additional 27,916 shares in the last quarter. Jane Street Group LLC increased its position in shares of Latham Group by 27.1% in the 1st quarter. Jane Street Group LLC now owns 24,894 shares of the company’s stock valued at $160,000 after buying an additional 5,315 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Latham Group by 9.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company’s stock valued at $140,000 after buying an additional 1,978 shares in the last quarter. Rhumbline Advisers increased its position in shares of Latham Group by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 63,639 shares of the company’s stock valued at $406,000 after buying an additional 1,672 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Latham Group by 12.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,096 shares of the company’s stock valued at $115,000 after buying an additional 2,038 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SWIM shares. Bank of America reduced their target price on Latham Group from $7.00 to $6.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. William Blair reissued an “outperform” rating on shares of Latham Group in a report on Wednesday, March 4th. Zacks Research downgraded Latham Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Stifel Nicolaus boosted their target price on Latham Group from $8.75 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Barclays reduced their target price on Latham Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $6.75.

About Latham Group

Latham Group, Inc designs, manufactures and supplies a broad range of aquatic products and services for residential and commercial applications. Offerings include fiberglass and vinyl-liner pool shells, commercial water park structures, water slides, surf simulators, pumps, filters, heaters and sanitation systems. The company also provides parts, equipment and technical support for pool installation, maintenance and repair.

Operating across three core segments—commercial, residential and aftermarket—Latham delivers turnkey aquatic facilities and attractions for municipal, hospitality and resort clients, offers packaged pool kits and equipment packages to builders and dealers, and supplies replacement parts, service contracts and technical assistance to support ongoing pool operations.

Headquartered in the United States, Latham Group maintains manufacturing and distribution centers throughout North America and Europe.