Latham Group (NASDAQ:SWIM) Cut to “Strong Sell” at Zacks Research

Latham Group (NASDAQ:SWIM) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

SWIM has been the topic of several other research reports. Wall Street Zen lowered shares of Latham Group from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Barclays reduced their price objective on 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. Bank of America decreased their target price on Latham Group from $7.00 to $6.00 and set an “underperform” rating on the stock in a report on Monday, April 20th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Latham Group in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Latham Group in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $7.50.

Latham Group Price Performance

NASDAQ:SWIM opened at $7.48 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.88 and a debt-to-equity ratio of 0.70. The business’s 50-day moving average price is $5.89 and its 200 day moving average price is $5.96. Latham Group has a 52-week low of $4.64 and a 52-week high of $8.97. The firm has a market cap of $880.02 million, a P/E ratio of 149.60, a PEG ratio of 1.48 and a beta of 1.65.

Latham Group (NASDAQ:SWIM) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.05). Latham Group had a net margin of 0.92% and a return on equity of 1.32%. The business had revenue of $197.47 million for the quarter, compared to the consensus estimate of $188.39 million. As a group, sell-side analysts predict that Latham Group will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Latham Group

In other news, Director James E. Cline bought 50,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were bought at an average cost of $4.84 per share, with a total value of $242,000.00. Following the purchase, the director directly owned 100,000 shares in the company, valued at $484,000. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Oliver C. Gloe bought 15,050 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $4.90 per share, for a total transaction of $73,745.00. Following the completion of the purchase, the chief financial officer owned 540,758 shares in the company, valued at approximately $2,649,714.20. This trade represents a 2.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Latham Group

Several hedge funds have recently bought and sold shares of SWIM. Congruence Capital LLC acquired a new stake in shares of Latham Group during the fourth quarter worth approximately $1,278,000. CenterBook Partners LP increased its stake in Latham Group by 21.0% in the 4th quarter. CenterBook Partners LP now owns 1,245,337 shares of the company’s stock valued at $7,908,000 after buying an additional 215,774 shares during the period. UBS Group AG lifted its position in Latham Group by 1,709.2% in the 4th quarter. UBS Group AG now owns 955,867 shares of the company’s stock worth $6,070,000 after buying an additional 903,032 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Latham Group by 293.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 431,239 shares of the company’s stock worth $2,316,000 after buying an additional 321,577 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Latham Group by 16.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,370,146 shares of the company’s stock valued at $18,096,000 after buying an additional 470,123 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

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.