Latham Group, Inc. Forecasted to Earn Q2 2022 Earnings of $0.23 Per Share (NASDAQ:SWIM)

Latham Group, Inc. (NASDAQ:SWIMGet Rating) – Research analysts at William Blair lowered their Q2 2022 EPS estimates for Latham Group in a report released on Thursday, May 12th. William Blair analyst R. Merkel now expects that the company will post earnings per share of $0.23 for the quarter, down from their previous forecast of $0.28. William Blair also issued estimates for Latham Group’s FY2024 earnings at $1.28 EPS.

Several other analysts have also issued reports on SWIM. KeyCorp dropped their target price on Latham Group from $27.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, March 11th. Morgan Stanley dropped their target price on Latham Group from $21.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, April 7th. Barclays dropped their target price on Latham Group from $22.00 to $20.00 in a report on Thursday, March 31st. Truist Financial dropped their target price on Latham Group from $25.00 to $21.00 in a report on Friday. Finally, The Goldman Sachs Group dropped their target price on Latham Group from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 12th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Latham Group presently has an average rating of “Buy” and a consensus target price of $20.44.

SWIM opened at $11.32 on Monday. Latham Group has a 52-week low of $10.01 and a 52-week high of $34.73. The firm has a market capitalization of $1.35 billion and a PE ratio of -17.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.04 and a current ratio of 1.99. The business’s 50-day simple moving average is $13.22 and its 200 day simple moving average is $17.61.

Latham Group (NASDAQ:SWIMGet Rating) last issued its quarterly earnings results on Thursday, March 10th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). The firm had revenue of $138.86 million during the quarter, compared to the consensus estimate of $128.53 million. Latham Group had a negative net margin of 10.95% and a positive return on equity of 1.67%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its position in shares of Latham Group by 53.3% in the third quarter. Royal Bank of Canada now owns 3,711 shares of the company’s stock valued at $61,000 after purchasing an additional 1,291 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of Latham Group in the third quarter valued at approximately $111,000. SG Americas Securities LLC acquired a new position in shares of Latham Group in the third quarter valued at approximately $130,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Latham Group in the fourth quarter valued at approximately $169,000. Finally, Arizona State Retirement System grew its position in shares of Latham Group by 60.0% in the first quarter. Arizona State Retirement System now owns 12,964 shares of the company’s stock valued at $172,000 after purchasing an additional 4,862 shares during the last quarter. 24.69% of the stock is currently owned by hedge funds and other institutional investors.

About Latham Group (Get Rating)

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, pool covers, and pool liners. The company was formerly known as Latham Topco, Inc and changed its name to Latham Group, Inc in March 2021.

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Earnings History and Estimates for Latham Group (NASDAQ:SWIM)

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