Latham Group (NASDAQ:SWIM) Given New $7.00 Price Target at Barclays

Latham Group (NASDAQ:SWIM) had its target price trimmed by Barclays from $8.00 to $7.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also recently commented on SWIM. Weiss Ratings reiterated a “sell (d)” rating on shares of Latham Group in a research note on Monday, December 29th. Wall Street Zen upgraded Latham Group from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. William Blair reiterated an “outperform” rating on shares of Latham Group in a research note on Wednesday, March 4th. Stifel Nicolaus increased their target price on Latham Group from $8.75 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Zacks Research cut Latham Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Latham Group has an average rating of “Hold” and an average target price of $7.00.

Latham Group Stock Performance

Latham Group stock opened at $5.67 on Wednesday. The stock has a market cap of $663.16 million, a P/E ratio of 63.00, a price-to-earnings-growth ratio of 1.86 and a beta of 1.75. The company has a current ratio of 2.77, a quick ratio of 1.82 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average of $6.18 and a 200-day moving average of $6.67. Latham Group has a 52 week low of $4.56 and a 52 week high of $8.97.

Latham Group (NASDAQ:SWIM) last released its earnings results on Tuesday, March 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $99.95 million during the quarter, compared to analysts’ expectations of $95.86 million. Latham Group had a return on equity of 2.79% and a net margin of 2.04%. On average, analysts expect that Latham Group will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Latham Group

Several large investors have recently added to or reduced their stakes in SWIM. Empowered Funds LLC increased its position in Latham Group by 7.4% in the first quarter. Empowered Funds LLC now owns 405,207 shares of the company’s stock worth $2,605,000 after buying an additional 27,916 shares during the period. Jane Street Group LLC increased its position in Latham Group by 27.1% in the first quarter. Jane Street Group LLC now owns 24,894 shares of the company’s stock worth $160,000 after buying an additional 5,315 shares during the period. JPMorgan Chase & Co. increased its position in Latham Group by 9.9% in the second quarter. JPMorgan Chase & Co. now owns 21,950 shares of the company’s stock worth $140,000 after buying an additional 1,978 shares during the period. Rhumbline Advisers increased its position in Latham Group by 2.7% in the second quarter. Rhumbline Advisers now owns 63,639 shares of the company’s stock worth $406,000 after buying an additional 1,672 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Latham Group by 12.7% in the second quarter. The Manufacturers Life Insurance Company now owns 18,096 shares of the company’s stock worth $115,000 after buying an additional 2,038 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.

Latham Group Company Profile

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.