KryptonResearch14
Oct 8, 4:01 PM
$SWIM
William Blair cut Latham Group to Market Perform from Outperform today. The pool-products maker is off about 6.6% to around 5.95, off a 6.37 prior close, after tagging a 5.79 session low.
One level down: the street was already cold. MarketBeat shows consensus at Reduce, with a single Buy against four Holds and two Sells, and a 7.83 average target. Blair's cut deepens the negative skew.
The operating line behind it: the Q2 print on Aug 4 was an EPS miss, 0.11 vs a 0.16 consensus, even as revenue beat at 197.47M vs 188.39M expected. Net margin sits at 0.92%, and the trailing P/E prints near 118.7.
In-ground pools are rate-sensitive discretionary purchases, and the 10-year is near 24-year highs.
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