Latham Group (NASDAQ:SWIM) Cut to Market Perform at William Blair

William Blair lowered shares of Latham Group (NASDAQ:SWIM) from an outperform rating to a market perform rating in a report published on Thursday morning, MarketBeat reports.

Several other research firms also recently issued reports on SWIM. Weiss Ratings raised shares of Latham Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Zacks Research raised shares of Latham Group from a “strong sell” rating to a “hold” rating in a research note on Friday, September 4th. Finally, Barclays increased their price objective on Latham Group from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Latham Group presently has a consensus rating of “Reduce” and an average price target of $7.83.

Latham Group Stock Performance

Latham Group stock opened at $6.04 on Thursday. The business has a 50 day moving average of $6.71 and a 200-day moving average of $6.03. Latham Group has a 1 year low of $4.64 and a 1 year high of $8.97. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.16 and a quick ratio of 1.44. The company has a market capitalization of $710.61 million, a P/E ratio of 120.80, a P/E/G ratio of 1.32 and a beta of 1.66.

Latham Group (NASDAQ:SWIM) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). Latham Group had a net margin of 0.92% and a return on equity of 1.31%. The business had revenue of $197.47 million during the quarter, compared to the consensus estimate of $188.39 million. On average, equities research analysts predict that Latham Group will post 0.16 earnings per share for the current year.

Institutional Trading of Latham Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new position in shares of Latham Group in the 2nd quarter worth approximately $72,000. Squarepoint Ops LLC boosted its stake in shares of Latham Group by 68.7% in the 2nd quarter. Squarepoint Ops LLC now owns 574,790 shares of the company’s stock valued at $3,719,000 after purchasing an additional 234,130 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Latham Group by 52.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,167 shares of the company’s stock worth $292,000 after buying an additional 15,529 shares during the period. Wellington Management Group LLP increased its position in shares of Latham Group by 24.0% during the second quarter. Wellington Management Group LLP now owns 11,364,049 shares of the company’s stock worth $73,525,000 after buying an additional 2,201,843 shares during the period. Finally, Empowered Funds LLC bought a new position in Latham Group during the second quarter worth $653,000. Institutional investors and hedge funds own 83.95% of the company’s stock.

About Latham Group

Latham Group, Inc is a manufacturer and marketer of residential swimming pool products. The company focuses primarily on the in-ground pool market and supplies products used in the construction, renovation and maintenance of swimming pools.

Its product portfolio includes fiberglass pool shells, vinyl pool liners, automatic safety covers and related pool components and accessories. Latham sells its products through a network of dealers, builders and distributors, serving both new pool construction and replacement and remodeling demand.

The company serves customers primarily in North America, with operations and sales activities in the United States and Canada, as well as in Australia and New Zealand.