Barclays Lowers Latham Group (NASDAQ:SWIM) Price Target to $7.00

Latham Group (NASDAQ:SWIM) had its price target cut by equities research analysts at Barclays from $8.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 24.44% from the stock’s previous close.

Several other research firms have also recently commented on SWIM. Stifel Nicolaus lifted their target price on Latham Group from $8.75 to $9.50 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Wall Street Zen raised Latham Group from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research cut Latham Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Latham Group in a research note on Monday, December 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Latham Group in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Latham Group currently has a consensus rating of “Hold” and an average price target of $7.00.

Latham Group Trading Up 8.8%

Shares of NASDAQ SWIM traded up $0.46 during midday trading on Wednesday, hitting $5.63. The stock had a trading volume of 264,546 shares, compared to its average volume of 986,698. The company’s 50-day simple moving average is $6.20 and its 200 day simple moving average is $6.68. The firm has a market cap of $657.90 million, a P/E ratio of 62.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.75. Latham Group has a fifty-two week low of $4.56 and a fifty-two week high of $8.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 1.82.

Latham Group (NASDAQ:SWIM) last released its earnings results on Tuesday, March 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $99.95 million during the quarter, compared to analysts’ expectations of $95.86 million. Latham Group had a return on equity of 2.79% and a net margin of 2.04%. Research analysts anticipate that Latham Group will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Latham Group

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in shares of Latham Group by 83.9% during the second quarter. BNP Paribas Financial Markets now owns 4,211 shares of the company’s stock worth $27,000 after purchasing an additional 1,921 shares during the period. Farther Finance Advisors LLC acquired a new stake in shares of Latham Group during the third quarter worth $28,000. Raymond James Financial Inc. acquired a new stake in shares of Latham Group during the second quarter worth $29,000. Covestor Ltd grew its stake in shares of Latham Group by 153.0% during the fourth quarter. Covestor Ltd now owns 5,576 shares of the company’s stock worth $35,000 after purchasing an additional 3,372 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Latham Group during the third quarter worth $47,000. 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.