Latham Group (NASDAQ:SWIM) Hits New 52-Week Low at $5.02

Posted by MarketBeat News on Aug 3rd, 2022

Latham Group, Inc. (NASDAQ:SWIM – Get Rating) shares reached a new 52-week low on Wednesday . The stock traded as low as $5.02 and last traded at $5.15, with a volume of 752518 shares changing hands. The stock had previously closed at $5.33.

Wall Street Analyst Weigh In

SWIM has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Latham Group from $12.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Robert W. Baird lowered their price objective on shares of Latham Group from $24.00 to $16.00 in a research report on Friday, May 13th. The Goldman Sachs Group lowered shares of Latham Group from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $8.00 to $5.50 in a research report on Wednesday, July 13th. Barclays lowered their price objective on shares of Latham Group from $19.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Finally, Truist Financial lowered their price objective on shares of Latham Group from $25.00 to $21.00 in a research report on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.36.

Latham Group Stock Performance

The business has a 50 day moving average of $7.47 and a 200-day moving average of $11.93. The company has a market capitalization of $615.79 million, a P/E ratio of -7.80, a price-to-earnings-growth ratio of 0.13 and a beta of 0.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.40 and a current ratio of 2.53.

Institutional Investors Weigh In On Latham Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in Latham Group by 67.9% during the fourth quarter. Bank of America Corp DE now owns 426,861 shares of the company’s stock valued at $10,684,000 after acquiring an additional 172,628 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Latham Group by 83.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 48,585 shares of the company’s stock worth $1,216,000 after purchasing an additional 22,052 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Latham Group by 0.5% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,554,003 shares of the company’s stock worth $189,077,000 after buying an additional 37,096 shares in the last quarter. Select Equity Group L.P. bought a new stake in Latham Group during the fourth quarter valued at $1,048,000. Finally, DAVENPORT & Co LLC bought a new position in Latham Group in the 1st quarter worth about $428,000. 24.69% of the stock is currently owned by institutional investors.

Latham Group Company Profile

(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.