Pool Corp. (POOL) Rating Lowered to Hold at Zacks Investment Research
Pool Corp. (NASDAQ:POOL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Pool Corp.’s third-quarter 2016 earnings of $1.03 per share surpassed the Zacks Consensus Estimate of $0.99 by 4% and increased 14% year over year. The improvement was largely a result of increased revenues. Net sales of $691.4 million in the quarter marginally missed the estimates but surged 7.1% year over year. The upside was mainly driven by 5% growth in base business sales. Moreover, market share gains and stronger consumer discretionary spending further bolstered the results. Additionally, the company raised its earnings guidance for 2016. This is the third time that the company has raised its earnings outlook for 2016. The company should continue to gain in the near term from base business sales growth and favorable trends in the housing market. However, seasonality of the company’s business along with macroeconomic headwinds raises concern.”
Separately, Wedbush reissued an “outperform” rating and issued a $115.00 price target on shares of Pool Corp. in a research note on Monday, October 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $96.80.
Shares of Pool Corp. (NASDAQ:POOL) opened at 99.64 on Monday. Pool Corp. has a 52 week low of $72.40 and a 52 week high of $102.86. The firm has a 50-day moving average of $93.89 and a 200 day moving average of $94.66. The firm has a market capitalization of $4.12 billion, a P/E ratio of 28.97 and a beta of 0.90.
Pool Corp. (NASDAQ:POOL) last issued its earnings results on Thursday, October 20th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. Pool Corp. had a net margin of 5.86% and a return on equity of 58.92%. The company had revenue of $691.40 million for the quarter, compared to the consensus estimate of $693.02 million. During the same period in the previous year, the firm earned $0.90 earnings per share. Pool Corp.’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Pool Corp. will post $3.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Stockholders of record on Wednesday, November 9th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, November 7th. Pool Corp.’s dividend payout ratio (DPR) is 35.94%.
A number of large investors have recently made changes to their positions in the company. Huntington National Bank increased its stake in shares of Pool Corp. by 0.5% in the second quarter. Huntington National Bank now owns 1,798 shares of the company’s stock valued at $169,000 after buying an additional 9 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Pool Corp. by 0.4% in the third quarter. Capstone Asset Management Co. now owns 4,896 shares of the company’s stock valued at $463,000 after buying an additional 20 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of Pool Corp. by 1.0% in the third quarter. Great Lakes Advisors LLC now owns 3,954 shares of the company’s stock valued at $374,000 after buying an additional 41 shares during the last quarter. McQueen Ball & Associates Inc. increased its stake in shares of Pool Corp. by 0.3% in the third quarter. McQueen Ball & Associates Inc. now owns 15,170 shares of the company’s stock valued at $1,434,000 after buying an additional 46 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Pool Corp. by 3.4% in the third quarter. Tower Research Capital LLC TRC now owns 1,602 shares of the company’s stock valued at $151,000 after buying an additional 53 shares during the last quarter. 94.10% of the stock is currently owned by hedge funds and other institutional investors.
Pool Corp. Company Profile
Pool Corporation is a distributor of swimming pool supplies, equipment and related leisure products. The Company is also a distributor of irrigation and landscape products in the United States. The Company operates over 340 sales centers in North America, Europe, South America and Australia through its over four distribution networks, such as SCP Distributors (SCP), Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT).
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