Latham Group (NASDAQ:SWIM) Sets New 52-Week High – Time to Buy?

Latham Group, Inc. (NASDAQ:SWIM)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $7.15 and last traded at $7.10, with a volume of 333180 shares. The stock had previously closed at $7.01.

Analysts Set New Price Targets

Several analysts recently issued reports on SWIM shares. Robert W. Baird boosted their price target on Latham Group from $5.00 to $5.50 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Stifel Nicolaus lifted their target price on Latham Group from $6.80 to $7.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Barclays upped their price objective on shares of Latham Group from $3.00 to $6.00 and gave the company an “equal weight” rating in a report on Monday, August 12th.

Latham Group Stock Up 1.0 %

The company has a quick ratio of 2.15, a current ratio of 3.22 and a debt-to-equity ratio of 0.68. The company has a 50 day simple moving average of $6.30 and a two-hundred day simple moving average of $4.42. The company has a market capitalization of $828.71 million, a P/E ratio of 79.67 and a beta of 1.88.

Latham Group (NASDAQ:SWIM) last issued its earnings results on Tuesday, August 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. Latham Group had a return on equity of 2.93% and a net margin of 2.24%. The company had revenue of $160.12 million during the quarter, compared to analyst estimates of $156.00 million. As a group, equities analysts predict that Latham Group, Inc. will post -0.02 EPS for the current year.

Insider Buying and Selling

In other news, VP Suraj Kunchala sold 10,139 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $5.06, for a total transaction of $51,303.34. Following the completion of the sale, the vice president now owns 38,748 shares in the company, valued at approximately $196,064.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Latham Group news, VP Suraj Kunchala sold 10,139 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $5.06, for a total transaction of $51,303.34. Following the completion of the sale, the vice president now owns 38,748 shares in the company, valued at $196,064.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Michael Rajeski sold 33,000 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $6.09, for a total transaction of $200,970.00. Following the completion of the sale, the chief executive officer now directly owns 516,680 shares in the company, valued at approximately $3,146,581.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,932 shares of company stock valued at $441,364. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Latham Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new stake in shares of Latham Group in the fourth quarter valued at approximately $32,000. Diversified Trust Co bought a new position in Latham Group in the second quarter valued at about $34,000. Public Employees Retirement System of Ohio increased its stake in shares of Latham Group by 69.2% in the first quarter. Public Employees Retirement System of Ohio now owns 10,967 shares of the company’s stock valued at $43,000 after buying an additional 4,484 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in Latham Group during the second quarter worth approximately $49,000. Finally, Ritholtz Wealth Management bought a new position in shares of Latham Group during the 2nd quarter worth about $55,000. 83.95% of the stock is owned by institutional investors.

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.