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Latham Group (SWIM) Surges 9.4%: Is This an Indication of Further Gains?

Zacks Equity Research
·2-min read

Latham Group (SWIM) shares ended the last trading session 9.4% higher at $7.19. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 21.9% loss over the past four weeks.

The stock is benefiting from the company’s product portfolio growth, its digital initiatives and operational excellence.

This swimming pool maker is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of +14.3%. Revenues are expected to be $218.64 million, up 20.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Latham Group, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SWIM going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Latham Group is part of the Zacks Building Products - Miscellaneous industry. Otis Worldwide (OTIS), another stock in the same industry, closed the last trading session 0.3% lower at $68.59. OTIS has returned -6.5% in the past month.

For Otis Worldwide , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.79. This represents no change from what the company reported a year ago. Otis Worldwide currently has a Zacks Rank of #3 (Hold).


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Zacks Investment Research