The Goldman Sachs Group Forecasts Strong Price Appreciation for Latham Group (NASDAQ:SWIM) Stock

Latham Group (NASDAQ:SWIM) had its target price upped by analysts at The Goldman Sachs Group from $3.00 to $5.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 17.76% from the stock’s current price.

SWIM has been the subject of a number of other research reports. Barclays raised their price target on shares of Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Stifel Nicolaus raised their target price on shares of Latham Group from $6.80 to $7.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Robert W. Baird raised their target price on shares of Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.62.

Latham Group Trading Up 4.6 %

NASDAQ:SWIM opened at $6.08 on Wednesday. The firm has a 50 day moving average of $6.49 and a 200 day moving average of $4.73. The stock has a market capitalization of $702.71 million, a price-to-earnings ratio of 69.11 and a beta of 1.88. Latham Group has a 52 week low of $2.09 and a 52 week high of $7.33. The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.68.

Latham Group (NASDAQ:SWIM) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The business had revenue of $160.12 million during the quarter, compared to analysts’ expectations of $156.00 million. Latham Group had a net margin of 2.24% and a return on equity of 2.93%. As a group, sell-side analysts anticipate that Latham Group will post -0.03 earnings per share for the current fiscal year.

Insider Activity at Latham Group

In other news, CEO Scott Michael Rajeski sold 25,851 shares of Latham Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.54, for a total value of $169,065.54. Following the sale, the chief executive officer now owns 490,829 shares in the company, valued at $3,210,021.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Scott Michael Rajeski sold 25,851 shares of Latham Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $6.54, for a total value of $169,065.54. Following the sale, the chief executive officer now owns 490,829 shares in the company, valued at $3,210,021.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Oliver C. Gloe sold 10,216 shares of Latham Group stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $6.44, for a total transaction of $65,791.04. Following the completion of the sale, the chief financial officer now owns 282,706 shares in the company, valued at approximately $1,820,626.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,067 shares of company stock worth $435,827. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Latham Group

A number of institutional investors and hedge funds have recently bought and sold shares of SWIM. Empowered Funds LLC boosted its position in Latham Group by 8.2% during the first quarter. Empowered Funds LLC now owns 271,220 shares of the company’s stock worth $1,074,000 after acquiring an additional 20,475 shares during the last quarter. Vanguard Group Inc. boosted its position in Latham Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock worth $8,234,000 after acquiring an additional 17,259 shares during the last quarter. Roubaix Capital LLC acquired a new position in Latham Group during the first quarter worth about $864,000. Lazard Asset Management LLC acquired a new position in Latham Group during the first quarter worth about $80,000. Finally, Public Employees Retirement System of Ohio raised its stake in Latham Group by 69.2% during the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock worth $43,000 after purchasing an additional 4,484 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

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