Pool Corp. (POOL) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Pool Corp. (NASDAQ:POOL) from a hold rating to a buy rating in a report issued on Tuesday morning. They currently have $113.00 price objective 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 restated an outperform rating and set a $115.00 target price on shares of Pool Corp. in a report on Monday, October 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $97.20.
Shares of Pool Corp. (NASDAQ:POOL) opened at 101.27 on Tuesday. The stock’s 50 day moving average price is $95.24 and its 200-day moving average price is $95.40. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 29.44 and a beta of 0.90. Pool Corp. has a 52 week low of $72.40 and a 52 week high of $103.55.
Pool Corp. (NASDAQ:POOL) last released its quarterly earnings results on Thursday, October 20th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. The business earned $691.40 million during the quarter, compared to analysts’ expectations of $693.02 million. Pool Corp. had a return on equity of 59.21% and a net margin of 5.86%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. Equities analysts anticipate that Pool Corp. will post $3.45 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 9th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Monday, November 7th. Pool Corp.’s dividend payout ratio is currently 35.94%.
A number of large investors have recently bought and sold shares of the stock. Arizona State Retirement System raised its stake in shares of Pool Corp. by 8.9% in the first quarter. Arizona State Retirement System now owns 23,100 shares of the company’s stock valued at $2,027,000 after buying an additional 1,879 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Pool Corp. during the first quarter valued at $859,000. BlueMountain Capital Management LLC acquired a new stake in shares of Pool Corp. during the first quarter valued at $133,000. BNP Paribas Arbitrage SA raised its stake in shares of Pool Corp. by 53,036.4% in the second quarter. BNP Paribas Arbitrage SA now owns 17,535 shares of the company’s stock valued at $1,649,000 after buying an additional 17,502 shares during the period. Finally, GW&K Investment Management LLC raised its stake in shares of Pool Corp. by 11.3% in the second quarter. GW&K Investment Management LLC now owns 69,185 shares of the company’s stock valued at $6,505,000 after buying an additional 7,009 shares during the period. 91.14% of the stock is currently owned by 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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