Pool Corp. (POOL) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Pool Corp. (NASDAQ:POOL) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $114.00 price target on the stock.
According to Zacks, “For Pool Corp., third-quarter 2016 marked the company’s 26th consecutive quarter of year-over-year growth in sales, gross profit and operating earnings. Notably, the company should continue to benefit in the near term from base business sales growth and favorable trends in the housing market. Moreover, continually strong growth in the pool renovation category along with reasonable improvement in green segment sales (the Horizon segment), is a major positive. Further, stronger consumer discretionary spending along with a tight supply situation, point to consistently robust demand for the rest of 2016 and 2017. The company’s leading market share position and opportunistic expansion strategies position it well for revenue growth. However, seasonality of the company’s business and macroeconomic headwinds remain causes of concern.”
Separately, Wedbush reaffirmed an outperform rating and issued a $109.00 price target on shares of Pool Corp. in a report on Friday, October 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $97.40.
Pool Corp. (NASDAQ:POOL) remained flat at $101.44 during mid-day trading on Wednesday. The stock had a trading volume of 222,847 shares. Pool Corp. has a 52-week low of $72.40 and a 52-week high of $103.28. The stock has a 50 day moving average price of $94.87 and a 200 day moving average price of $95.17. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 29.49 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 the consensus estimate of $1.01 by $0.02. Pool Corp. had a return on equity of 58.92% and a net margin of 5.86%. The business earned $691.40 million during the quarter, compared to the consensus estimate of $693.02 million. During the same quarter last year, the company earned $0.90 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Pool Corp. will post $3.45 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 9th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, November 7th. This represents a $1.24 dividend on an annualized basis and a yield of 1.22%. Pool Corp.’s dividend payout ratio (DPR) is currently 35.94%.
A number of institutional investors have recently made changes to their positions in POOL. Huntington National Bank boosted its position 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 worth $169,000 after buying an additional 9 shares during the period. Capstone Asset Management Co. boosted its position 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 worth $463,000 after buying an additional 20 shares during the period. Great Lakes Advisors LLC boosted its position 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 worth $374,000 after buying an additional 41 shares during the period. McQueen Ball & Associates Inc. boosted its position 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 worth $1,434,000 after buying an additional 46 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position 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 worth $151,000 after buying an additional 53 shares during the period. 91.93% of the stock is currently owned by institutional investors and hedge funds.
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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