Latham Group (NASDAQ:SWIM) Price Target Raised to $5.00

Latham Group (NASDAQ:SWIM) had its price target hoisted by The Goldman Sachs Group from $3.00 to $5.00 in a research note published on Wednesday,Benzinga reports. They currently have a sell rating on the stock.

Several other research firms have also commented on SWIM. Barclays boosted their price target on Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Robert W. Baird boosted their price target on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their price target on Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.62.

Latham Group Stock Down 3.9 %

Shares of SWIM stock traded down $0.24 during mid-day trading on Wednesday, hitting $5.84. The stock had a trading volume of 651,941 shares, compared to its average volume of 430,148. Latham Group has a 12-month low of $2.09 and a 12-month high of $7.33. The firm has a market capitalization of $674.99 million, a P/E ratio of 64.90 and a beta of 1.88. The firm’s 50-day moving average is $6.48 and its two-hundred day moving average is $4.76. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.22 and a quick ratio of 2.15.

Latham Group (NASDAQ:SWIM) last issued its earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. Latham Group had a return on equity of 2.86% and a net margin of 2.23%. The business had revenue of $160.12 million during the quarter, compared to analysts’ expectations of $156.00 million. On average, analysts predict that Latham Group will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Latham Group news, CEO Scott Michael Rajeski sold 33,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.09, for a total transaction of $200,970.00. Following the transaction, the chief executive officer now owns 516,680 shares in the company, valued at approximately $3,146,581.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Scott Michael Rajeski sold 33,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $6.09, for a total value of $200,970.00. Following the completion of the sale, the chief executive officer now owns 516,680 shares of the company’s stock, valued at approximately $3,146,581.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Oliver C. Gloe sold 10,216 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $6.44, for a total value of $65,791.04. Following the completion of the sale, the chief financial officer now directly owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,067 shares of company stock worth $435,827. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Latham Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SWIM. Public Employees Retirement System of Ohio boosted its position in shares of Latham Group by 69.2% during the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock worth $43,000 after buying an additional 4,484 shares during the period. Diversified Trust Co purchased a new position in shares of Latham Group during the second quarter worth $34,000. Intech Investment Management LLC purchased a new position in shares of Latham Group during the third quarter worth $92,000. SG Americas Securities LLC purchased a new position in shares of Latham Group during the third quarter worth $105,000. Finally, Burns Matteson Capital Management LLC purchased a new position in shares of Latham Group during the second quarter worth $49,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

Latham Group Company Profile

Latham Group, Inc designs, manufactures, and markets in-ground residential swimming pools in North America, Australia, and New Zealand. It offers a portfolio of pools and related products, including in-ground swimming pools that include fiber glass and packaged pools; and pool covers and liners under the Latham, Narellan, CoverStar, Radiant, and GLI brand names.