Craig Hallum Initiates Coverage on Latham Group (NASDAQ:SWIM)

Stock analysts at Craig Hallum assumed coverage on shares of Latham Group (NASDAQ:SWIM) in a note issued to investors on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $10.00 price target on the stock. Craig Hallum’s price objective points to a potential upside of 27.55% from the company’s current price.

Several other research analysts also recently issued reports on the company. Barclays upped their price objective 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 upped their target price on shares of Latham Group from $5.50 to $7.50 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Stifel Nicolaus increased their target price on Latham Group from $7.00 to $7.70 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group boosted their target price on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.47.

Latham Group Trading Up 10.4 %

SWIM stock opened at $7.84 on Monday. The business has a fifty day moving average price of $6.52 and a 200 day moving average price of $5.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.44 and a quick ratio of 1.60. Latham Group has a fifty-two week low of $2.11 and a fifty-two week high of $7.92. The stock has a market capitalization of $906.50 million, a price-to-earnings ratio of 87.11 and a beta of 1.84.

Insider Activity

In related news, CFO Oliver C. Gloe sold 10,216 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $6.44, for a total value of $65,791.04. Following the completion of the transaction, the chief financial officer now directly owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. This represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Sanjeev Bahl sold 11,750 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the transaction, the chief operating officer now owns 262,811 shares of the company’s stock, valued at approximately $1,550,584.90. This trade represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SWIM. Vanguard Group Inc. lifted its stake in Latham Group by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock valued at $8,234,000 after acquiring an additional 17,259 shares in the last quarter. Diversified Trust Co bought a new stake in shares of Latham Group in the second quarter worth $34,000. Bank of New York Mellon Corp boosted its holdings in Latham Group by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company’s stock worth $537,000 after purchasing an additional 3,837 shares during the last quarter. BloombergSen Inc. grew its position in Latham Group by 24.3% in the second quarter. BloombergSen Inc. now owns 48,560 shares of the company’s stock valued at $147,000 after purchasing an additional 9,506 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Latham Group by 1.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 197,072 shares of the company’s stock valued at $597,000 after buying an additional 3,161 shares during the last quarter. 83.95% of the stock is 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.