Latham Group (NASDAQ:SWIM) Raised to Hold at Zacks Research

Latham Group (NASDAQ:SWIM) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Several other brokerages have also recently issued reports on SWIM. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Latham Group in a report on Monday, October 12th. Weiss Ratings downgraded Latham Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Barclays upped their target price on Latham Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Finally, William Blair lowered Latham Group from an “outperform” rating to a “market perform” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Latham Group has a consensus rating of “Reduce” and a consensus price target of $7.83.

Latham Group Price Performance

Shares of NASDAQ:SWIM opened at $8.28 on Monday. The firm has a market capitalization of $974.97 million, a price-to-earnings ratio of 103.50, a price-to-earnings-growth ratio of 1.23 and a beta of 1.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.38 and a quick ratio of 1.63. The business’s 50 day simple moving average is $6.65 and its 200-day simple moving average is $6.22. Latham Group has a 12 month low of $4.64 and a 12 month high of $8.97.

Hedge Funds Weigh In On Latham Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWIM. WINTON GROUP Ltd acquired a new stake in shares of Latham Group in the second quarter valued at approximately $72,000. State of Wyoming acquired a new position in shares of Latham Group during the 2nd quarter worth approximately $75,000. Modern Wealth Management LLC raised its position in shares of Latham Group by 28.3% during the 1st quarter. Modern Wealth Management LLC now owns 16,814 shares of the company’s stock worth $90,000 after purchasing an additional 3,712 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Latham Group in the 2nd quarter valued at approximately $102,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Latham Group in the 2nd quarter valued at approximately $107,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

About Latham Group

Latham Group, Inc. designs, manufactures and markets in-ground swimming pools and related products for residential use. Its offerings include fiberglass pools, vinyl pool liners and automatic safety covers. The company serves customers primarily in North America, as well as in Australia and New Zealand. Its business builds on the history of Latham Pool Products, which dates to 1956.