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

Shares of Latham Group, Inc. (NASDAQ:SWIMGet Rating) have earned an average recommendation of “Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $21.78.

A number of equities research analysts recently issued reports on SWIM shares. KeyCorp dropped their target price on shares of Latham Group from $27.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, March 11th. Morgan Stanley lowered their price objective on shares of Latham Group from $21.00 to $19.00 and set an “equal weight” rating for the company in a research report on Thursday, April 7th. Robert W. Baird upped their price objective on Latham Group from $20.00 to $24.00 in a report on Friday, March 11th. The Goldman Sachs Group reduced their price objective on Latham Group from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 12th. Finally, Barclays reduced their price objective on Latham Group from $22.00 to $20.00 in a report on Thursday, March 31st.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada bought a new stake in shares of Latham Group in the 2nd quarter valued at $77,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Latham Group in the 4th quarter valued at $169,000. SG Americas Securities LLC bought a new stake in shares of Latham Group in the 3rd quarter valued at $130,000. Millennium Management LLC bought a new stake in shares of Latham Group in the 2nd quarter valued at $257,000. Finally, Arizona State Retirement System bought a new stake in shares of Latham Group in the 4th quarter valued at $203,000. Institutional investors and hedge funds own 24.69% of the company’s stock.

Shares of SWIM stock traded down $0.62 during mid-day trading on Tuesday, reaching $12.09. The company’s stock had a trading volume of 1,507 shares, compared to its average volume of 731,022. Latham Group has a 1-year low of $11.51 and a 1-year high of $34.73. The company has a market cap of $1.44 billion and a P/E ratio of -21.96. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.04 and a current ratio of 1.99. The firm’s 50-day moving average is $14.02 and its two-hundred day moving average is $17.83.

Latham Group (NASDAQ:SWIMGet Rating) last announced its quarterly earnings data on Thursday, March 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Latham Group had a negative net margin of 9.89% and a positive return on equity of 5.07%. The business had revenue of $138.86 million during the quarter, compared to analyst estimates of $128.53 million. Sell-side analysts anticipate that Latham Group will post 0.94 EPS for the current year.

About Latham Group (Get Rating)

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, pool covers, and pool liners. The company was formerly known as Latham Topco, Inc and changed its name to Latham Group, Inc in March 2021.

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Analyst Recommendations for Latham Group (NASDAQ:SWIM)

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