Analysts Set Latham Group, Inc. (NASDAQ:SWIM) Target Price at $5.76

Latham Group, Inc. (NASDAQ:SWIM) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $6.65.

A number of analysts have recently issued reports on SWIM shares. Stifel Nicolaus lifted their target price on Latham Group from $7.70 to $8.80 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird increased their price target on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Craig Hallum began coverage on shares of Latham Group in a research note on Monday. They set a “buy” rating and a $10.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th.

Latham Group Stock Performance

Shares of NASDAQ:SWIM opened at $8.35 on Monday. Latham Group has a one year low of $2.11 and a one year high of $8.41. The company has a market cap of $965.47 million, a P/E ratio of 92.78 and a beta of 1.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.60 and a current ratio of 2.44. The business’s 50-day simple moving average is $6.55 and its 200 day simple moving average is $5.26.

Insider Transactions at Latham Group

In other news, COO Sanjeev Bahl sold 11,750 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $5.90, for a total transaction of $69,325.00. Following the sale, the chief operating officer now directly owns 262,811 shares of the company’s stock, valued at $1,550,584.90. The trade was a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Oliver C. Gloe sold 10,216 shares of Latham Group stock in a transaction dated Thursday, October 31st. The stock was 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 in the company, valued at $1,820,626.64. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new stake in shares of Latham Group in the third quarter valued at $438,000. Barclays PLC boosted its position in Latham Group by 294.8% during the 3rd quarter. Barclays PLC now owns 54,720 shares of the company’s stock worth $372,000 after acquiring an additional 40,860 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Latham Group by 2.1% during the third quarter. Geode Capital Management LLC now owns 971,731 shares of the company’s stock worth $6,609,000 after purchasing an additional 20,209 shares during the period. XTX Topco Ltd acquired a new position in Latham Group in the 3rd quarter valued at approximately $382,000. Finally, Zacks Investment Management lifted its position in Latham Group by 69.2% in the 3rd quarter. Zacks Investment Management now owns 25,523 shares of the company’s stock worth $174,000 after buying an additional 10,436 shares in the last quarter. Institutional investors and hedge funds own 83.95% 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 that include fiber glass and packaged pools; and pool covers and liners under the Latham, Narellan, CoverStar, Radiant, and GLI brand names.