Latham Group (NASDAQ:SWIM) Given New $19.00 Price Target at KeyCorp

Latham Group (NASDAQ:SWIM) had its price target trimmed by KeyCorp from $29.00 to $19.00 in a report issued on Wednesday morning, The Fly reports. The brokerage currently has an overweight rating on the stock. The analysts noted that the move was a valuation call.

A number of other analysts also recently commented on the stock. Morgan Stanley dropped their target price on shares of Latham Group from $26.00 to $18.00 and set an equal weight rating on the stock in a report on Thursday, October 7th. Zacks Investment Research downgraded shares of Latham Group from a buy rating to a hold rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Latham Group has an average rating of Buy and a consensus price target of $28.75.

Shares of NASDAQ:SWIM opened at $13.20 on Wednesday. The stock has a 50 day moving average of $18.93. Latham Group has a twelve month low of $12.69 and a twelve month high of $34.73. The company has a quick ratio of 1.50, a current ratio of 2.17 and a debt-to-equity ratio of 0.70.

Latham Group (NASDAQ:SWIM) last issued its quarterly earnings results on Thursday, August 5th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. The company had revenue of $180.89 million during the quarter, compared to analyst estimates of $174.00 million. Equities analysts forecast that Latham Group will post 0.55 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in shares of Latham Group during the second quarter valued at approximately $30,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Latham Group during the second quarter valued at approximately $58,000. Royal Bank of Canada acquired a new stake in shares of Latham Group during the second quarter valued at approximately $77,000. Legal & General Group Plc acquired a new stake in shares of Latham Group during the second quarter valued at approximately $88,000. Finally, CNH Partners LLC acquired a new stake in shares of Latham Group during the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 23.86% of the company’s stock.

Latham Group Company Profile

Latham Group, Inc designs, manufactures, and markets in-ground residential swimming pools. The company offers in-ground swimming pools, pool liners, and pool cover products. Latham Group, Inc was formerly known as Latham Topco, Inc and changed its name to Latham Group, Inc in March 2021. Latham Group, Inc was incorporated in 2018 and is based in Latham, New York.

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