Latham Group (NASDAQ:SWIM) Price Target Increased to $7.00 by Analysts at Stifel Nicolaus

Latham Group (NASDAQ:SWIM) had its price target upped by equities research analysts at Stifel Nicolaus from $6.80 to $7.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 12.00% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Barclays lifted their target price on shares of Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Robert W. Baird boosted their price objective on shares of Latham Group from $5.00 to $5.50 and gave the company an “outperform” rating in a report on Wednesday, August 7th.

Latham Group Stock Performance

NASDAQ SWIM opened at $6.25 on Monday. Latham Group has a 52-week low of $2.04 and a 52-week high of $6.68. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.15 and a current ratio of 3.22. The company has a 50-day simple moving average of $4.69 and a 200 day simple moving average of $3.87. The company has a market capitalization of $722.33 million, a PE ratio of 208.33 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $160.12 million for the quarter, compared to analyst estimates of $156.00 million. Latham Group had a return on equity of 2.93% and a net margin of 2.24%. On average, research analysts predict that Latham Group will post -0.03 EPS for the current year.

Insider Buying and Selling

In related news, VP Suraj Kunchala sold 10,139 shares of the company’s 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 transaction, the vice president now owns 38,748 shares in the company, valued at $196,064.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Suraj Kunchala sold 10,139 shares of the company’s 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 transaction, the vice president now owns 38,748 shares in the company, valued at $196,064.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Michael Rajeski sold 33,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $6.09, for a total transaction of $200,970.00. Following the transaction, the chief executive officer now owns 516,680 shares of the company’s stock, valued at approximately $3,146,581.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,932 shares of company stock worth $441,364. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Latham Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. boosted its position in shares of Latham Group by 1.6% during the second 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 period. Bank of New York Mellon Corp boosted its holdings in Latham Group by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 177,134 shares of the company’s stock valued at $537,000 after acquiring an additional 3,837 shares during the period. Public Employees Retirement System of Ohio grew its position in Latham Group by 69.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock valued at $43,000 after acquiring an additional 4,484 shares during the last quarter. ELCO Management Co. LLC grew its position in Latham Group by 8.6% in the 2nd quarter. ELCO Management Co. LLC now owns 97,762 shares of the company’s stock valued at $296,000 after acquiring an additional 7,762 shares during the last quarter. Finally, BloombergSen Inc. increased its stake in Latham Group by 24.3% in the second quarter. BloombergSen Inc. now owns 48,560 shares of the company’s stock worth $147,000 after purchasing an additional 9,506 shares during the period. Hedge funds and other institutional investors 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.