Latham Group (NASDAQ:SWIM) Reaches New 12-Month Low at $11.51

Shares of Latham Group, Inc. (NASDAQ:SWIMGet Rating) reached a new 52-week low during trading on Thursday . The stock traded as low as $11.51 and last traded at $12.17, with a volume of 344212 shares changing hands. The stock had previously closed at $11.78.

Several research firms have issued reports on SWIM. Barclays decreased their price objective on shares of Latham Group from $22.00 to $20.00 in a report on Thursday, March 31st. Morgan Stanley decreased their price objective on shares of Latham Group from $21.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, April 7th. The Goldman Sachs Group decreased their price objective on shares of Latham Group from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 12th. KeyCorp decreased their price objective on shares of Latham Group from $27.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, March 11th. Finally, Zacks Investment Research raised shares of Latham Group from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, April 6th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $21.78.

The business’s 50 day simple moving average is $14.12 and its 200 day simple moving average is $17.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.04 and a current ratio of 1.99.

Latham Group (NASDAQ:SWIMGet Rating) last issued its quarterly earnings data on Thursday, March 10th. The company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.13). The business had revenue of $138.86 million during the quarter, compared to analyst estimates of $128.53 million. Latham Group had a negative net margin of 9.89% and a positive return on equity of 5.07%. As a group, equities analysts predict that Latham Group, Inc. will post 0.94 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of SWIM. Royal Bank of Canada grew its position in Latham Group by 53.3% in the third quarter. Royal Bank of Canada now owns 3,711 shares of the company’s stock valued at $61,000 after acquiring an additional 1,291 shares in the last quarter. Moors & Cabot Inc. bought a new stake in Latham Group in the third quarter valued at $111,000. SG Americas Securities LLC bought a new stake in Latham Group in the third quarter valued at $130,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Latham Group during the fourth quarter valued at about $169,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of Latham Group during the third quarter valued at about $186,000. Hedge funds and other institutional investors own 22.02% of the company’s stock.

About Latham Group (NASDAQ:SWIM)

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, pool covers, and pool liners. The company was formerly known as Latham Topco, Inc and changed its name to Latham Group, Inc in March 2021.

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