Latham Group (NASDAQ:SWIM) Price Target Cut to $21.00 by Analysts at Truist Financial

Latham Group (NASDAQ:SWIMGet Rating) had its price objective trimmed by Truist Financial from $25.00 to $21.00 in a report released on Friday morning, The Fly reports.

Other analysts have also issued research reports about the company. Barclays cut their price objective on Latham Group from $22.00 to $20.00 in a research report on Thursday, March 31st. Zacks Investment Research lowered Latham Group from a buy rating to a hold rating in a report on Thursday. The Goldman Sachs Group dropped their target price on Latham Group from $18.00 to $15.00 and set a neutral rating on the stock in a report on Tuesday, April 12th. KeyCorp dropped their price objective on Latham Group from $27.00 to $21.00 and set an overweight rating on the stock in a report on Friday, March 11th. Finally, Morgan Stanley decreased their target price on shares of Latham Group from $21.00 to $19.00 and set an equal weight rating for the company in a research note on Thursday, April 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Buy and an average price target of $20.44.

Shares of Latham Group stock traded up $0.22 during trading hours on Friday, reaching $11.32. 649,656 shares of the company were exchanged, compared to its average volume of 699,205. Latham Group has a 1 year low of $10.01 and a 1 year high of $34.73. The stock’s fifty day moving average is $13.22 and its 200 day moving average is $17.58. The company has a quick ratio of 1.04, a current ratio of 1.99 and a debt-to-equity ratio of 0.74.

Latham Group (NASDAQ:SWIMGet Rating) last posted its quarterly earnings data on Thursday, March 10th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Latham Group had a positive return on equity of 5.07% and a negative net margin of 9.89%. The company had revenue of $138.86 million for the quarter, compared to analysts’ expectations of $128.53 million. As a group, equities analysts expect that Latham Group will post 0.94 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada acquired a new position in shares of Latham Group during the 2nd quarter valued at $77,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Latham Group during the 4th quarter valued at $169,000. SG Americas Securities LLC acquired a new position in shares of Latham Group during the 3rd quarter valued at $130,000. Millennium Management LLC acquired a new position in shares of Latham Group during the 2nd quarter valued at $257,000. Finally, Arizona State Retirement System acquired a new position in shares of Latham Group during the 4th quarter valued at $203,000. Institutional investors own 24.69% of the company’s stock.

About Latham Group (Get Rating)

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, pool covers, and pool liners. The company was formerly known as Latham Topco, Inc and changed its name to Latham Group, Inc in March 2021.

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