Latham Group (NASDAQ:SWIM) Reaches New 1-Year Low – Here’s Why

Latham Group, Inc. (NASDAQ:SWIM)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $5.01 and last traded at $5.01, with a volume of 1164120 shares changing hands. The stock had previously closed at $5.37.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Zacks Research cut shares of Latham Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 3rd. Barclays lowered their price objective on Latham Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Stifel Nicolaus raised their price objective on Latham Group from $8.75 to $9.50 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings raised Latham Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, William Blair reissued an “outperform” rating on shares of Latham Group in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.50.

Latham Group Trading Down 6.7%

The firm has a 50-day moving average price of $5.88 and a 200-day moving average price of $6.43. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.16 and a current ratio of 1.88. The stock has a market cap of $588.23 million, a PE ratio of 71.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.72.

Latham Group (NASDAQ:SWIM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Latham Group had a return on equity of 2.13% and a net margin of 1.55%.The company had revenue of $117.32 million during the quarter, compared to analysts’ expectations of $118.39 million. As a group, equities analysts anticipate that Latham Group, Inc. will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Latham Group

A number of hedge funds have recently bought and sold shares of SWIM. BNP Paribas Financial Markets raised its position in Latham Group by 83.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock worth $27,000 after buying an additional 1,921 shares during the last quarter. Farther Finance Advisors LLC purchased a new position in Latham Group in the 3rd quarter worth about $28,000. Raymond James Financial Inc. purchased a new position in Latham Group in the 2nd quarter worth about $29,000. Summit Securities Group LLC purchased a new position in Latham Group in the 1st quarter worth about $30,000. Finally, Covestor Ltd raised its position in Latham Group by 153.0% in the 4th quarter. Covestor Ltd now owns 5,576 shares of the company’s stock worth $35,000 after buying an additional 3,372 shares during the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.

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.