Latham Group, Inc. (NASDAQ:SWIM – Get Rating) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.64 and last traded at $4.70, with a volume of 2530 shares changing hands. The stock had previously closed at $4.81.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Barclays cut their target price on Latham Group from $19.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Truist Financial cut their target price on Latham Group from $21.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 12th. Morgan Stanley cut their target price on 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. The Goldman Sachs Group lowered Latham Group from a “neutral” rating to a “sell” rating and cut their target price for the company from $8.00 to $5.50 in a research report on Wednesday, July 13th. Finally, Robert W. Baird dropped their price target on Latham Group from $16.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 10th. One 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 has a consensus rating of “Moderate Buy” and an average target price of $10.64.
Latham Group Price Performance
The company has a debt-to-equity ratio of 0.81, a current ratio of 2.47 and a quick ratio of 1.17. The company has a 50-day simple moving average of $5.85 and a two-hundred day simple moving average of $9.20. The stock has a market capitalization of $509.48 million, a price-to-earnings ratio of -33.46, a price-to-earnings-growth ratio of 0.19 and a beta of 0.23.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Verition Fund Management LLC bought a new position in shares of Latham Group in the second quarter worth $110,000. ExodusPoint Capital Management LP grew its stake in shares of Latham Group by 15.5% in the second quarter. ExodusPoint Capital Management LP now owns 37,897 shares of the company’s stock worth $263,000 after purchasing an additional 5,074 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Latham Group by 243.9% in the second quarter. Goldman Sachs Group Inc. now owns 512,766 shares of the company’s stock worth $3,553,000 after purchasing an additional 363,653 shares in the last quarter. First Republic Investment Management Inc. grew its stake in shares of Latham Group by 81.6% in the second quarter. First Republic Investment Management Inc. now owns 53,739 shares of the company’s stock worth $372,000 after purchasing an additional 24,145 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Latham Group by 27.9% in the second quarter. Prudential Financial Inc. now owns 31,434 shares of the company’s stock worth $233,000 after purchasing an additional 6,862 shares in the last quarter. Institutional investors own 32.28% of the company’s stock.
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, 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.
- Get a free copy of the StockNews.com research report on Latham Group (SWIM)
- The Worst May be Over for Target, But is the Stock Safe to Buy?
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Two Fun Stocks The Insiders Are Buying
- Novavax Remains a Risk-On Stock in a Risk-Off Market
- 3 Defensive Stocks With 60-Year Dividend Hike Streaks
Receive News & Ratings for Latham Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Latham Group and related companies with MarketBeat.com's FREE daily email newsletter.