Latham Group (NASDAQ:SWIM) Given New $12.00 Price Target at Morgan Stanley

Latham Group (NASDAQ:SWIMGet Rating) had its target price lowered by research analysts at Morgan Stanley from $13.00 to $12.00 in a research report issued on Tuesday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 29.03% from the company’s previous close.

Several other equities research analysts have also recently weighed in on SWIM. The Goldman Sachs Group decreased their target price on Latham Group from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, April 12th. Barclays decreased their target price on Latham Group from $22.00 to $20.00 in a research note on Thursday, March 31st. KeyCorp decreased their target price on Latham Group from $27.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, March 11th. Robert W. Baird reduced their price objective on Latham Group from $24.00 to $16.00 in a research note on Friday, May 13th. Finally, Zacks Investment Research cut Latham Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. Three investment analysts have rated the stock with a hold rating and five have issued 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 $17.38.

Shares of SWIM traded up $0.13 during midday trading on Tuesday, hitting $9.30. The company had a trading volume of 14,383 shares, compared to its average volume of 794,587. The company’s 50-day simple moving average is $12.07 and its 200-day simple moving average is $17.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.40 and a current ratio of 2.53. The firm has a market capitalization of $1.11 billion and a P/E ratio of -14.18. Latham Group has a 1 year low of $8.22 and a 1 year high of $32.58.

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 the consensus estimate of $0.08 by ($0.13). The company had revenue of $138.86 million during the quarter, compared to analysts’ expectations of $128.53 million. Latham Group had a negative net margin of 10.95% and a positive return on equity of 1.61%. Equities analysts predict that Latham Group will post 0.92 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings 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 during the period. Ensign Peak Advisors Inc acquired a new position in Latham Group during the first quarter worth $85,000. Point72 Hong Kong Ltd acquired a new stake in Latham Group in the first quarter valued at $88,000. Moors & Cabot Inc. purchased a new position in shares of Latham Group in the third quarter valued at $111,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Latham Group in the fourth quarter valued at $169,000. 24.69% of the stock is currently owned by institutional investors and hedge funds.

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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