Latham Group (NASDAQ:SWIM) Hits New 12-Month Low at $4.64

Latham Group, Inc. (NASDAQ:SWIMGet 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.

Latham Group (NASDAQ:SWIMGet Rating) last issued its earnings results on Thursday, August 11th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.20). Latham Group had a negative return on equity of 3.61% and a negative net margin of 2.26%. The company had revenue of $206.80 million during the quarter, compared to analyst estimates of $218.64 million. On average, equities research analysts predict that Latham Group, Inc. will post 0.73 earnings per share for the current year.

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

(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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