Latham Group (NASDAQ:SWIM) Hits New 52-Week High on Analyst Upgrade

Latham Group, Inc. (NASDAQ:SWIM) shares reached a new 52-week high during trading on Tuesday after Stifel Nicolaus raised their price target on the stock from $6.80 to $7.00. Stifel Nicolaus currently has a buy rating on the stock. Latham Group traded as high as $6.83 and last traded at $6.73, with a volume of 167752 shares trading hands. The stock had previously closed at $6.43.

Several other brokerages also recently issued reports on SWIM. Barclays increased their price target on Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Robert W. Baird increased their target price on Latham Group from $5.00 to $5.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

Insider Buying and Selling

In other news, VP Suraj Kunchala sold 10,139 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $5.06, for a total transaction of $51,303.34. Following the completion of the transaction, the vice president now directly owns 38,748 shares of the company’s stock, valued at $196,064.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Scott Michael Rajeski sold 25,851 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $6.54, for a total value of $169,065.54. Following the completion of the transaction, the chief executive officer now owns 490,829 shares of the company’s stock, valued at $3,210,021.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Suraj Kunchala sold 10,139 shares of Latham Group stock in a transaction on Friday, August 9th. The shares were sold at an average price of $5.06, for a total transaction of $51,303.34. Following the completion of the sale, the vice president now owns 38,748 shares in the company, valued at $196,064.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,932 shares of company stock valued at $441,364. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in Latham Group by 21.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock valued at $4,067,000 after purchasing an additional 234,930 shares during the last quarter. Roubaix Capital LLC increased its position in shares of Latham Group by 104.1% during the 2nd quarter. Roubaix Capital LLC now owns 445,652 shares of the company’s stock worth $1,350,000 after purchasing an additional 227,349 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Latham Group by 103.7% during the 2nd quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock worth $1,269,000 after purchasing an additional 213,128 shares in the last quarter. Premier Fund Managers Ltd boosted its holdings in shares of Latham Group by 55.7% in the 4th quarter. Premier Fund Managers Ltd now owns 199,536 shares of the company’s stock valued at $542,000 after buying an additional 71,343 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Latham Group by 11.2% in the second quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock valued at $2,093,000 after buying an additional 69,356 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Latham Group Stock Performance

The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average is $4.84 and its two-hundred day moving average is $3.92. The firm has a market capitalization of $770.87 million, a price-to-earnings ratio of 222.33 and a beta of 1.87.

Latham Group (NASDAQ:SWIM) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. Latham Group had a net margin of 2.24% and a return on equity of 2.93%. The company had revenue of $160.12 million for the quarter, compared to analyst estimates of $156.00 million. On average, analysts predict that Latham Group, Inc. will post -0.03 earnings per share for the current year.

Latham Group Company Profile

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 that include fiber glass and packaged pools; and pool covers and liners under the Latham, Narellan, CoverStar, Radiant, and GLI brand names.