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

Latham Group (NASDAQ:SWIM) posted its quarterly earnings results on Tuesday. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05), FiscalAI reports. The business had revenue of $182.18 million during 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 Price Performance

SWIM stock traded down $0.14 during mid-day trading on Tuesday, reaching $7.32. The company’s stock had a trading volume of 1,333,138 shares, compared to its average volume of 870,430. The company’s 50 day moving average is $6.54 and its two-hundred day moving average is $6.18. The stock has a market cap of $861.17 million, a PE ratio of 146.40, a P/E/G ratio of 1.54 and a beta of 1.66. The company has a current ratio of 2.16, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. Latham Group has a fifty-two week low of $4.64 and a fifty-two week high of $8.97.

Analyst Upgrades and Downgrades

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

About Latham Group

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.