Latham Group (NASDAQ:SWIM) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

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

Several other research firms have also recently weighed in on SWIM. The Goldman Sachs Group boosted their price objective on Latham Group from $3.00 to $5.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Barclays boosted their price objective on Latham Group from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Robert W. Baird boosted their price objective on Latham Group from $5.50 to $7.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.76.

Latham Group Trading Up 0.7 %

Shares of Latham Group stock opened at $6.94 on Monday. The stock has a fifty day simple moving average of $6.48 and a 200 day simple moving average of $5.01. Latham Group has a 12-month low of $2.11 and a 12-month high of $7.33. The company has a market capitalization of $802.40 million, a P/E ratio of 77.12 and a beta of 1.88. 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

In other news, CFO Oliver C. Gloe sold 10,216 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 282,706 shares of the company’s stock, valued at $1,820,626.64. This represents a 3.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sanjeev Bahl sold 11,750 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 262,811 shares in the company, valued at $1,550,584.90. This represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.60% of the company’s stock.

Institutional Trading of Latham Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SWIM. Vanguard Group Inc. raised its stake in shares of Latham Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 2,079,221 shares of the company’s stock valued at $8,234,000 after purchasing an additional 17,259 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Latham Group during the 1st quarter valued at $80,000. Public Employees Retirement System of Ohio raised its stake in shares of Latham Group by 69.2% during the 1st 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. Burns Matteson Capital Management LLC bought a new stake in shares of Latham Group during the 2nd quarter valued at $49,000. Finally, Diversified Trust Co bought a new stake in shares of Latham Group during the 2nd quarter valued at $34,000. 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.