Latham Group (NASDAQ:SWIM) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of Latham Group (NASDAQ:SWIM) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks reports.

SWIM has been the subject of several other research reports. The Goldman Sachs Group reissued a “sell” rating on shares of Latham Group in a research report on Monday, October 12th. William Blair downgraded shares of Latham Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 8th. Weiss Ratings lowered shares of Latham Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Finally, Barclays lifted their price target on shares of Latham Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Latham Group has a consensus rating of “Reduce” and an average target price of $7.83.

Latham Group Trading Down 1.4%

NASDAQ SWIM opened at $8.28 on Monday. The firm has a market capitalization of $974.97 million, a PE ratio of 103.50, a P/E/G ratio of 1.23 and a beta of 1.71. The stock’s 50 day moving average is $6.65 and its 200 day moving average is $6.22. Latham Group has a twelve month low of $4.64 and a twelve month high of $8.97. The company has a quick ratio of 1.63, a current ratio of 2.38 and a debt-to-equity ratio of 0.68.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd purchased a new stake in shares of Latham Group in the second quarter worth $72,000. State of Wyoming purchased a new position in shares of Latham Group in the 2nd quarter worth about $75,000. Modern Wealth Management LLC raised its position in shares of Latham Group by 28.3% in the 1st quarter. Modern Wealth Management LLC now owns 16,814 shares of the company’s stock worth $90,000 after purchasing an additional 3,712 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Latham Group in the 2nd quarter worth about $102,000. Finally, Canada Pension Plan Investment Board bought a new position in Latham Group in the 2nd quarter worth about $107,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Latham Group Company Profile

Latham Group, Inc. designs, manufactures and markets in-ground swimming pools and related products for residential use. Its offerings include fiberglass pools, vinyl pool liners and automatic safety covers. The company serves customers primarily in North America, as well as in Australia and New Zealand. Its business builds on the history of Latham Pool Products, which dates to 1956.