Latham Group (NASDAQ:SWIM) Price Target Raised to $7.70

Latham Group (NASDAQ:SWIM) had its price objective raised by Stifel Nicolaus from $7.00 to $7.70 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

SWIM has been the subject of several other research reports. The Goldman Sachs Group raised their price objective on Latham Group from $3.00 to $5.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Robert W. Baird boosted their price objective on shares of Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Barclays raised their target price on shares of Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.76.

Latham Group Price Performance

SWIM stock opened at $6.59 on Monday. 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 1 year low of $2.11 and a 1 year high of $7.33. The firm has a 50-day moving average of $6.48 and a 200 day moving average of $5.03. The company has a market cap of $761.94 million, a P/E ratio of 72.67 and a beta of 1.88.

Insider Activity

In other news, COO Sanjeev Bahl sold 11,750 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 262,811 shares in the company, valued at $1,550,584.90. This trade represents a 4.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the chief financial officer now owns 282,706 shares of the company’s stock, valued at approximately $1,820,626.64. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Several institutional investors have recently made changes to their positions in the business. Roubaix Capital LLC grew its position in shares of Latham Group by 70.9% during the 3rd quarter. Roubaix Capital LLC now owns 761,541 shares of the company’s stock valued at $5,178,000 after acquiring an additional 315,889 shares during the period. Principal Financial Group Inc. purchased a new position in Latham Group during the third quarter valued at $697,000. Public Employees Retirement System of Ohio grew its holdings 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 valued at $43,000 after purchasing an additional 4,484 shares during the period. Vanguard Group Inc. increased its position in Latham Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock worth $8,234,000 after buying an additional 17,259 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Latham Group by 103.7% in the second 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 period. 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.