Latham Group (NASDAQ:SWIM) Shares Gap Up – What’s Next?

Latham Group, Inc. (NASDAQ:SWIM)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.70, but opened at $6.97. Latham Group shares last traded at $6.76, with a volume of 524,298 shares traded.

Analysts Set New Price Targets

SWIM has been the subject of a number of recent research reports. Weiss Ratings upgraded Latham Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Barclays dropped their price objective on shares of Latham Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Latham Group in a report on Wednesday, May 6th. Bank of America lowered their target price on shares of Latham Group from $7.00 to $6.00 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Finally, Wall Street Zen lowered shares of Latham Group from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.50.

Latham Group Stock Up 25.6%

The stock has a market capitalization of $840.66 million, a price-to-earnings ratio of 102.29, a price-to-earnings-growth ratio of 0.96 and a beta of 1.65. The firm has a 50 day simple moving average of $5.77 and a 200-day simple moving average of $5.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.88 and a quick ratio of 1.16.

Latham Group (NASDAQ:SWIM) last issued its earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). Latham Group had a net margin of 1.55% and a return on equity of 2.13%. The firm had revenue of $197.47 million during the quarter, compared to analyst estimates of $188.39 million. On average, sell-side analysts forecast that Latham Group, Inc. will post 0.18 EPS for the current fiscal year.

Insider Transactions at Latham Group

In other news, Director James E. Cline purchased 50,000 shares of Latham Group stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $4.84 per share, for a total transaction of $242,000.00. Following the completion of the transaction, the director directly owned 100,000 shares in the company, valued at approximately $484,000. This represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Oliver C. Gloe acquired 15,050 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $4.90 per share, with a total value of $73,745.00. Following the acquisition, the chief financial officer owned 540,758 shares of the company’s stock, valued at approximately $2,649,714.20. This represents a 2.86% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Latham Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 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 valued at $27,000 after purchasing an additional 1,921 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Latham Group in the second quarter valued at $29,000. Summit Securities Group LLC bought a new position in shares of Latham Group in the first quarter valued at about $30,000. Covestor Ltd raised its holdings in shares of Latham Group by 153.0% in the fourth quarter. Covestor Ltd now owns 5,576 shares of the company’s stock valued at $35,000 after buying an additional 3,372 shares during the last quarter. Finally, State of Wyoming acquired a new position in Latham Group during the 4th quarter worth about $55,000. 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.