Latham Group (NASDAQ:SWIM) Price Target Lowered to $16.00 at Robert W. Baird

Latham Group (NASDAQ:SWIM – Get Rating) had its price objective dropped by analysts at Robert W. Baird from $24.00 to $16.00 in a research note issued on Friday, The Fly reports. Robert W. Baird’s price target would suggest a potential upside of 44.14% from the company’s previous close.

A number of other brokerages have also weighed in on SWIM. Barclays cut their price target on shares of Latham Group from $22.00 to $20.00 in a research note on Thursday, March 31st. Zacks Investment Research lowered shares of Latham Group from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group cut their price objective on shares of Latham Group from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 12th. Morgan Stanley cut their price objective on shares of Latham Group from $21.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 7th. Finally, Truist Financial cut their price objective on shares of Latham Group from $37.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, March 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Latham Group presently has a consensus rating of “Buy” and an average price target of $20.89.

Shares of SWIM opened at $11.10 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.04 and a current ratio of 1.99. Latham Group has a twelve month low of $10.01 and a twelve month high of $34.73. The firm’s 50 day moving average price is $13.34 and its two-hundred day moving average price is $17.64. The firm has a market cap of $1.33 billion and a P/E ratio of -19.82.

Latham Group (NASDAQ:SWIM – Get Rating) last announced its quarterly earnings results on Thursday, March 10th. The company reported ($0.05) earnings per share 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 company had revenue of $138.86 million during the quarter, compared to the consensus estimate of $128.53 million. On average, sell-side analysts anticipate that Latham Group will post 0.94 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of SWIM. Royal Bank of Canada raised its position in Latham Group by 53.3% during the third quarter. Royal Bank of Canada now owns 3,711 shares of the company’s stock worth $61,000 after acquiring an additional 1,291 shares in the last quarter. Moors & Cabot Inc. bought a new stake in Latham Group during the third quarter worth $111,000. SG Americas Securities LLC bought a new stake in Latham Group during the third quarter worth $130,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Latham Group during the fourth quarter worth $169,000. Finally, Arizona State Retirement System raised its position in Latham Group by 60.0% during the first quarter. Arizona State Retirement System now owns 12,964 shares of the company’s stock worth $172,000 after acquiring an additional 4,862 shares in the last quarter. 24.69% of the stock is currently owned by hedge funds and other institutional investors.

Latham Group Company Profile (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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