Latham Group, Inc. (NASDAQ:SWIM) Given Average Rating of “Hold” by Brokerages

Shares of Latham Group, Inc. (NASDAQ:SWIM – Get Rating) have been given a consensus rating of “Hold” by the eight research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $5.25.

A number of analysts recently issued reports on the company. Stifel Nicolaus dropped their price objective on Latham Group from $3.50 to $2.50 in a report on Monday, April 24th. Barclays reduced their price objective on Latham Group from $5.00 to $4.00 in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on Latham Group from $3.00 to $2.50 and set a “sell” rating on the stock in a research report on Tuesday, April 11th.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Citigroup Inc. grew its holdings in shares of Latham Group by 217.5% in the first quarter. Citigroup Inc. now owns 10,239 shares of the company’s stock worth $29,000 after acquiring an additional 7,014 shares during the period. Commonwealth Equity Services LLC purchased a new stake in Latham Group during the first quarter valued at approximately $30,000. LPL Financial LLC bought a new position in shares of Latham Group during the fourth quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new position in shares of Latham Group during the third quarter valued at approximately $34,000. Finally, Creative Planning bought a new position in Latham Group in the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 31.00% of the company’s stock.

Latham Group Stock Down 6.2 %

Shares of NASDAQ:SWIM opened at $3.33 on Friday. The company has a market capitalization of $381.88 million, a PE ratio of -20.81 and a beta of 1.21. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.94 and a quick ratio of 1.03. The business has a fifty day moving average price of $2.76 and a two-hundred day moving average price of $3.32. Latham Group has a 1 year low of $2.12 and a 1 year high of $11.75.

Latham Group (NASDAQ:SWIM – Get Rating) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.09). The firm had revenue of $137.70 million for the quarter, compared to the consensus estimate of $123.05 million. Latham Group had a negative return on equity of 0.77% and a negative net margin of 0.82%. The firm’s revenue was down 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) EPS. Analysts forecast that Latham Group will post 0.21 earnings per share for the current year.

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.