Analysts Set Latham Group, Inc. (NASDAQ:SWIM) Target Price at $6.65

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

Several brokerages have recently commented on SWIM. Robert W. Baird raised their price objective on shares of Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on shares of Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. 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 note on Wednesday, December 11th. Finally, Craig Hallum assumed coverage on Latham Group in a research note on Monday, December 9th. They set a “buy” rating and a $10.00 price target for the company.

Latham Group Price Performance

Latham Group stock opened at $7.04 on Tuesday. The company has a market capitalization of $813.96 million, a PE ratio of 78.23 and a beta of 1.81. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $6.94 and a two-hundred day moving average price of $6.24. Latham Group has a 12 month low of $2.31 and a 12 month high of $8.41.

Insider Buying and Selling

In other news, COO Sanjeev Bahl sold 11,750 shares of Latham Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $5.90, for a total value of $69,325.00. Following the sale, the chief operating officer now directly owns 262,811 shares in the company, valued at approximately $1,550,584.90. This trade represents a 4.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Michael Rajeski sold 22,191 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total transaction of $185,072.94. Following the completion of the transaction, the chief executive officer now directly owns 480,829 shares of the company’s stock, valued at approximately $4,010,113.86. The trade was a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Latham Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SWIM. American Century Companies Inc. grew its stake in shares of Latham Group by 103.7% in the 2nd quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock worth $1,269,000 after buying an additional 213,128 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Latham Group by 21.2% during the 2nd 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 in the last quarter. Renaissance Technologies LLC raised its holdings in Latham Group by 11.2% in the second quarter. Renaissance Technologies LLC now owns 690,856 shares of the company’s stock worth $2,093,000 after buying an additional 69,356 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Latham Group by 71.1% in the second quarter. Cubist Systematic Strategies LLC now owns 27,923 shares of the company’s stock worth $85,000 after buying an additional 11,601 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Latham Group during the third quarter valued at approximately $105,000. 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.