Latham Group (NASDAQ:SWIM – Get 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.
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
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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