Equities Analysts Issue Forecasts for Latham Group, Inc.’s Q2 2023 Earnings (NASDAQ:SWIM)

Latham Group, Inc. (NASDAQ:SWIM – Get Rating) – Analysts at William Blair lowered their Q2 2023 earnings per share estimates for shares of Latham Group in a note issued to investors on Tuesday, May 9th. William Blair analyst R. Merkel now forecasts that the company will post earnings of $0.19 per share for the quarter, down from their prior forecast of $0.21. The consensus estimate for Latham Group’s current full-year earnings is $0.21 per share. William Blair also issued estimates for Latham Group’s Q3 2023 earnings at $0.17 EPS, Q4 2023 earnings at ($0.01) EPS and FY2023 earnings at $0.29 EPS.

SWIM has been the topic of a number of other reports. Barclays reduced their price target on shares of Latham Group from $5.00 to $4.00 in a research note on Wednesday. The Goldman Sachs Group lowered their target price on shares of Latham Group from $3.00 to $2.50 and set a “sell” rating for the company in a report on Tuesday, April 11th. Finally, Stifel Nicolaus decreased their price target on shares of Latham Group from $3.50 to $2.50 in a research note on Monday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.25.

Latham Group Trading Down 6.2 %

NASDAQ SWIM opened at $3.33 on Friday. The company has a current ratio of 2.94, a quick ratio of 1.03 and a debt-to-equity ratio of 0.81. The company has a fifty day simple moving average of $2.76 and a two-hundred day simple moving average of $3.32. Latham Group has a 12-month low of $2.12 and a 12-month high of $11.75. The stock has a market cap of $381.88 million, a P/E ratio of -20.81 and a beta of 1.21.

Latham Group (NASDAQ:SWIM – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.09). The business had revenue of $137.70 million for the quarter, compared to analysts’ expectations of $123.05 million. Latham Group had a negative return on equity of 0.77% and a negative net margin of 0.82%. The business’s revenue for the quarter was down 28.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.02) EPS.

Insider Buying and Selling

In other news, Director James E. Cline purchased 40,000 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was purchased at an average price of $3.40 per share, with a total value of $136,000.00. Following the completion of the purchase, the director now directly owns 159,050 shares in the company, valued at approximately $540,770. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Latham Group

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in Latham Group by 2.4% in the third quarter. Renaissance Technologies LLC now owns 151,800 shares of the company’s stock valued at $545,000 after purchasing an additional 3,500 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Latham Group by 4.8% during the 1st quarter. Blair William & Co. IL now owns 80,565 shares of the company’s stock worth $1,067,000 after buying an additional 3,684 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Latham Group by 29.1% during the 1st quarter. Invesco Ltd. now owns 17,920 shares of the company’s stock worth $237,000 after buying an additional 4,040 shares during the last quarter. Delphia USA Inc. increased its holdings in Latham Group by 38.5% in the 3rd quarter. Delphia USA Inc. now owns 15,275 shares of the company’s stock valued at $55,000 after purchasing an additional 4,248 shares during the last quarter. Finally, American International Group Inc. boosted its position in Latham Group by 25.4% in the 1st quarter. American International Group Inc. now owns 21,267 shares of the company’s stock valued at $282,000 after buying an additional 4,308 shares during the period. Hedge funds and other institutional investors own 31.00% of the company’s stock.

About Latham Group

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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.