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

Latham Group (NASDAQ:SWIM) had its target price hoisted by stock analysts at Stifel Nicolaus from $7.00 to $7.70 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 9.38% from the stock’s previous close.

Several other analysts have also recently commented on SWIM. Robert W. Baird lifted their target price 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. Barclays raised their target price on shares of Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group raised their target price on shares of Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.76.

Latham Group Stock Performance

NASDAQ:SWIM traded up $0.15 during mid-day trading on Monday, reaching $7.04. The stock had a trading volume of 416,972 shares, compared to its average volume of 444,400. 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 firm has a market capitalization of $813.96 million, a price-to-earnings ratio of 78.23 and a beta of 1.88. Latham Group has a twelve month low of $2.11 and a twelve month high of $7.33. The business has a 50 day simple moving average of $6.47 and a 200 day simple moving average of $4.99.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SWIM. Roubaix Capital LLC raised its holdings 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 purchasing an additional 315,889 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Latham Group by 21.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,342,142 shares of the company’s stock valued at $4,067,000 after acquiring an additional 234,930 shares in the last quarter. American Century Companies Inc. raised its holdings in Latham Group by 103.7% in the 2nd quarter. American Century Companies Inc. now owns 418,708 shares of the company’s stock valued at $1,269,000 after buying an additional 213,128 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Latham Group in the 3rd quarter valued at $697,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Latham Group during the 3rd quarter worth $635,000. Institutional investors own 83.95% of the company’s stock.

Latham Group Company Profile

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.