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Thesis: Latham: the story is balanced — Housing starts and building permits - new pool installations correlate 0.7+ with single-family housing activity with 6-9…
value/turnaround - Stock trades at 1.4x sales (below 2021 peak of 3-4x) attracting investors betting on housing market recovery and margin…
Very high sensitivity to mortgage rates and home equity line of credit (HELOC) rates.
Watch on earnings: MORTGAGE30US (30-year mortgage rate) - primary driver of housing affordability and home equity borrowing costs, HOUST (housing starts) - leading indicator for new pool installation demand with 6-9 month lag, CSUSHPINSA (Case-Shiller home price index) - rising home equity enables HELOC-financed pool purchases.
One Sentence Summary:
Latham: the story is balanced — housing starts and building permits - new pool installations correlate 0.7+ with single-family housing activity with 6-9 month lag.
Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.