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

Latham Group, Inc. (NASDAQ:SWIM) has earned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.65.

SWIM has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their target price 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 raised their price target on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Stifel Nicolaus upped their price objective on Latham Group from $7.70 to $8.80 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Craig Hallum assumed coverage on Latham Group in a research note on Monday, December 9th. They issued a “buy” rating and a $10.00 target price on the stock.

Latham Group Price Performance

SWIM stock opened at $6.41 on Friday. The stock has a market cap of $741.12 million, a PE ratio of 71.23 and a beta of 1.81. Latham Group has a 12 month low of $2.38 and a 12 month high of $8.41. The company has a 50-day moving average price of $6.85 and a 200 day moving average price of $6.57. The company has a current ratio of 2.44, a quick ratio of 1.60 and a debt-to-equity ratio of 0.67.

Insider Activity at Latham Group

In related news, CEO Scott Michael Rajeski sold 22,191 shares of Latham Group stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $8.34, for a total value of $185,072.94. Following the completion of the sale, the chief executive officer now directly owns 480,829 shares in the company, valued at $4,010,113.86. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new stake in shares of Latham Group in the 4th quarter valued at about $521,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Latham Group during the fourth quarter valued at approximately $117,000. State of Wyoming increased its holdings in Latham Group by 181.7% during the fourth quarter. State of Wyoming now owns 48,344 shares of the company’s stock valued at $336,000 after buying an additional 31,185 shares during the period. Shay Capital LLC purchased a new stake in Latham Group during the fourth quarter worth $270,000. Finally, ProShare Advisors LLC purchased a new stake in Latham Group during the fourth quarter worth $79,000. 83.95% of the stock is currently owned by institutional investors.

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.