Latham Group (NASDAQ:SWIM) Announces Earnings Results, Misses Expectations By $0.05 EPS

Key Points

• Latham Group reported quarterly EPS of $0.10, missing analyst expectations of $0.15 by $0.05. Revenue was $182.18 million, slightly above the $181.06 million consensus estimate.
• The shares fell 1.9% to $7.32 in Tuesday mid-day trading.
• Analyst sentiment is cautious: MarketBeat lists an average rating of “Reduce” and an average price target of $7.83, with one Buy, three Hold, and three Sell ratings.

Latham Group (NASDAQ:SWIM - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05), FiscalAI reports. The firm had revenue of $182.18 million for the quarter, compared to the consensus estimate of $181.06 million. Latham Group had a return on equity of 1.31% and a net margin of 0.92%.

Latham Group Stock Down 1.9%

Shares of NASDAQ SWIM traded down $0.14 during mid-day trading on Tuesday, hitting $7.32. 1,333,138 shares of the stock traded hands, compared to its average volume of 870,430. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 2.16. The stock has a fifty day moving average price of $6.54 and a 200-day moving average price of $6.18. Latham Group has a 52 week low of $4.64 and a 52 week high of $8.97. The company has a market cap of $861.17 million, a price-to-earnings ratio of 146.40, a PEG ratio of 1.54 and a beta of 1.66.

Analysts Set New Price Targets

Several analysts have recently weighed in on SWIM shares. Weiss Ratings upgraded shares of Latham Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. The Goldman Sachs Group restated a "sell" rating on shares of Latham Group in a research note on Monday, October 12th. William Blair downgraded shares of Latham Group from an "outperform" rating to a "market perform" rating in a report on Thursday, October 8th. Barclays upped their price target on Latham Group from $7.00 to $8.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Finally, Zacks Research cut shares of Latham Group from a "hold" rating to a "strong sell" rating in a research note on Friday, October 9th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $7.83.

Latham Group Company Profile

Latham Group, Inc designs, manufactures and markets residential swimming pool products. The company is best known for its in-ground fiberglass pools, which are manufactured as pre-formed shells and installed at residential properties. Its product portfolio also includes vinyl pool liners, automatic and safety pool covers, pool walls, steps, stairs and related components.

Latham serves the residential swimming pool construction and renovation markets through a network of dealers, builders and distributors.

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