Latham Group (NASDAQ:SWIM) Price Target Raised to $7.70

Latham Group (NASDAQ:SWIM) had its price objective upped by Stifel Nicolaus from $7.00 to $7.70 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

SWIM has been the subject of a number of other research reports. Barclays boosted their price target on Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Robert W. Baird boosted their target price on shares of Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.76.

Latham Group Stock Performance

NASDAQ SWIM opened at $6.59 on Monday. The firm has a 50-day moving average price of $6.48 and a two-hundred day moving average price of $5.04. Latham Group has a 12-month low of $2.11 and a 12-month high of $7.33. The company has a market capitalization of $761.97 million, a P/E ratio of 73.22 and a beta of 1.88. The company has a quick ratio of 1.60, a current ratio of 2.44 and a debt-to-equity ratio of 0.67.

Insider Activity at Latham Group

In related news, CFO Oliver C. Gloe sold 10,216 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $6.44, for a total transaction of $65,791.04. Following the sale, the chief financial officer now owns 282,706 shares of the company’s stock, valued at $1,820,626.64. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Sanjeev Bahl sold 11,750 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the completion of the transaction, the chief operating officer now directly owns 262,811 shares of the company’s stock, valued at approximately $1,550,584.90. The trade was a 4.28 % decrease in their position. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Latham Group

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Latham Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock valued at $8,234,000 after acquiring an additional 17,259 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Latham Group by 21.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock worth $4,067,000 after purchasing an additional 234,930 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Latham Group by 2.1% in the third quarter. Geode Capital Management LLC now owns 971,731 shares of the company’s stock worth $6,609,000 after purchasing an additional 20,209 shares during the last quarter. State Street Corp raised its position in Latham Group by 5.4% during the 3rd quarter. State Street Corp now owns 789,974 shares of the company’s stock worth $5,372,000 after purchasing an additional 40,764 shares during the last quarter. Finally, Roubaix Capital LLC raised its position in Latham Group by 70.9% during the 3rd quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock worth $5,178,000 after purchasing an additional 315,889 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.

About Latham Group

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.