Latham Group, Inc. (NASDAQ:SWIM) Receives $5.76 Average Target Price from Brokerages

Shares of Latham Group, Inc. (NASDAQ:SWIM) have earned an average recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $6.65.

A number of equities research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Craig Hallum initiated coverage on Latham Group in a research report on Monday. They set a “buy” rating and a $10.00 price target for the company. Finally, Stifel Nicolaus lifted their price objective on Latham Group from $7.70 to $8.80 and gave the company a “buy” rating in a research note on Wednesday.

Insider Activity

In other news, CFO Oliver C. Gloe sold 10,216 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $6.44, for a total transaction of $65,791.04. Following the completion of the transaction, the chief financial officer now directly owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. This represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Sanjeev Bahl sold 11,750 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the sale, the chief operating officer now owns 262,811 shares of the company’s stock, valued at approximately $1,550,584.90. The trade was a 4.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. FMR LLC lifted its holdings in Latham Group by 75.9% in the third quarter. FMR LLC now owns 7,239 shares of the company’s stock valued at $49,000 after acquiring an additional 3,123 shares during the period. Quarry LP acquired a new position in shares of Latham Group in the third quarter worth $53,000. Quadrature Capital Ltd purchased a new position in Latham Group in the 3rd quarter valued at about $72,000. Diversified Trust Co acquired a new stake in Latham Group during the second quarter worth approximately $34,000. Finally, Voya Financial Advisors Inc. purchased a new stake in shares of Latham Group in the third quarter valued at $89,000. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Latham Group Stock Performance

Shares of Latham Group stock opened at $8.35 on Monday. The business’s fifty day simple moving average is $6.55 and its 200-day simple moving average is $5.26. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67. The firm has a market cap of $965.47 million, a PE ratio of 92.78 and a beta of 1.84. Latham Group has a 52 week low of $2.11 and a 52 week high of $8.41.

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 that include fiber glass and packaged pools; and pool covers and liners under the Latham, Narellan, CoverStar, Radiant, and GLI brand names.