PNR - Why Latham Group Shares Bounced This Week
Shares of Latham Group (NASDAQ: SWIM) were up 9.1% on the week as of the close of trading on Thursday. The residential swimming pool manufacturer will release its third-quarter earnings on Nov. 10, and investors should watch them closely.
However, this week's move was driven more by what Latham's peers such as Pentair (NYSE: PNR) and Pool Corp (NASDAQ: POOL) have already reported. Their latest numbers offer shareholders some comfort, indicating as they do that conditions in the recreational pool market might not be as bad as the market had anticipated -- and priced into their shares.
The entire niche is seen as challenged due to rising raw material costs, weakening consumer spending , and the difficulty of overcoming tough comparisons with 2021, when stay-at-home measures boosted spending on home improvements such as pools.
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Why Latham Group Shares Bounced This Week