Robert W. Baird Lowers Latham Group (NASDAQ:SWIM) Price Target to $6.00

Latham Group (NASDAQ:SWIMGet Rating) had its price objective cut by equities research analysts at Robert W. Baird from $8.00 to $6.00 in a note issued to investors on Monday, The Fly reports. Robert W. Baird’s price objective indicates a potential upside of 91.08% from the company’s previous close.

SWIM has been the topic of several other research reports. Truist Financial dropped their target price on Latham Group from $21.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 12th. KeyCorp reduced their target price on Latham Group from $16.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, August 12th. Morgan Stanley lowered their price target on shares of Latham Group from $8.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 12th. The Goldman Sachs Group reduced their price objective on shares of Latham Group from $5.50 to $3.50 and set a “sell” rating for the company in a research note on Wednesday, October 12th. Finally, Barclays lowered their target price on shares of Latham Group from $11.00 to $7.00 and set an “overweight” rating on the stock in a research report on Friday, November 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.36.

Latham Group Stock Performance

Shares of SWIM opened at $3.14 on Monday. The company’s 50 day simple moving average is $4.28 and its 200-day simple moving average is $6.57. Latham Group has a 12-month low of $3.10 and a 12-month high of $27.25. The firm has a market cap of $367.76 million, a PE ratio of 49.14, a price-to-earnings-growth ratio of 0.61 and a beta of 1.10. The company has a current ratio of 2.71, a quick ratio of 1.28 and a debt-to-equity ratio of 0.78.

Latham Group (NASDAQ:SWIMGet Rating) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.07). Latham Group had a return on equity of 2.67% and a net margin of 1.01%. The company had revenue of $189.40 million for the quarter, compared to analysts’ expectations of $191.85 million. As a group, equities analysts predict that Latham Group will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. State Street Corp increased its position in Latham Group by 2.2% during the third quarter. State Street Corp now owns 746,352 shares of the company’s stock worth $2,679,000 after buying an additional 16,055 shares in the last quarter. Trexquant Investment LP purchased a new stake in Latham Group during the 3rd quarter worth about $403,000. Prelude Capital Management LLC acquired a new position in Latham Group in the 3rd quarter valued at about $1,186,000. Marshall Wace LLP lifted its holdings in Latham Group by 107.0% in the 3rd quarter. Marshall Wace LLP now owns 94,200 shares of the company’s stock valued at $337,000 after purchasing an additional 48,700 shares in the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. boosted its stake in shares of Latham Group by 295.1% during the 3rd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 770,367 shares of the company’s stock worth $2,766,000 after purchasing an additional 575,367 shares during the last quarter. 32.28% of the stock is currently owned by institutional investors and hedge funds.

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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