Latham Group (NASDAQ:SWIM) Price Target Cut to $6.00 by Analysts at Bank of America

Latham Group (NASDAQ:SWIM) had its price target cut by Bank of America from $7.00 to $6.00 in a report published on Monday morning,Benzinga reports. They currently have an underperform rating on the stock.

A number of other equities analysts have also commented on the company. Stifel Nicolaus raised their price target on Latham Group from $8.75 to $9.50 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Zacks Research cut Latham Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Latham Group in a research note on Monday, December 29th. Wall Street Zen downgraded Latham Group from a “buy” rating to a “hold” rating in a research note on Sunday, April 12th. Finally, Barclays reduced their target price on Latham Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $6.75.

Latham Group Stock Performance

Shares of SWIM stock opened at $6.18 on Monday. The firm’s 50 day moving average is $6.11 and its 200 day moving average is $6.58. The stock has a market capitalization of $722.81 million, a P/E ratio of 68.67, a PEG ratio of 2.27 and a beta of 1.75. Latham Group has a 12 month low of $4.56 and a 12 month high of $8.97. The company has a current ratio of 2.77, a quick ratio of 1.82 and a debt-to-equity ratio of 0.68.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. Latham Group had a net margin of 2.04% and a return on equity of 2.79%. The business had revenue of $99.95 million during the quarter, compared to analyst estimates of $95.86 million. On average, sell-side analysts anticipate that Latham Group will post 0.1 earnings per share for the current year.

Institutional Trading of Latham Group

Hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new position in Latham Group in the fourth quarter worth $97,000. Wellington Management Group LLP raised its position in Latham Group by 216.4% during the fourth quarter. Wellington Management Group LLP now owns 6,749,349 shares of the company’s stock valued at $42,858,000 after purchasing an additional 4,616,367 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Latham Group during the fourth quarter worth about $207,000. Millennium Management LLC lifted its stake in Latham Group by 124.0% during the fourth quarter. Millennium Management LLC now owns 151,710 shares of the company’s stock worth $963,000 after purchasing an additional 83,990 shares during the last quarter. Finally, Man Group plc purchased a new position in shares of Latham Group in the 4th quarter worth about $118,000. 83.95% of the stock is owned by institutional investors.

About Latham Group

Latham Group, Inc designs, manufactures and supplies a broad range of aquatic products and services for residential and commercial applications. Offerings include fiberglass and vinyl-liner pool shells, commercial water park structures, water slides, surf simulators, pumps, filters, heaters and sanitation systems. The company also provides parts, equipment and technical support for pool installation, maintenance and repair.

Operating across three core segments—commercial, residential and aftermarket—Latham delivers turnkey aquatic facilities and attractions for municipal, hospitality and resort clients, offers packaged pool kits and equipment packages to builders and dealers, and supplies replacement parts, service contracts and technical assistance to support ongoing pool operations.

Headquartered in the United States, Latham Group maintains manufacturing and distribution centers throughout North America and Europe.