Pool Corp. (NASDAQ:POOL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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 $115.00 price target on shares of Pool Corp. in a research note on Monday, October 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $97.40.
Pool Corp. (NASDAQ:POOL) traded up 0.48% on Friday, hitting $101.93. 72,777 shares of the stock traded hands. Pool Corp. has a 12 month low of $72.40 and a 12 month high of $103.55. The firm has a 50-day moving average price of $94.87 and a 200-day moving average price of $95.17. The company has a market capitalization of $4.21 billion, a PE ratio of 29.63 and a beta of 0.90.
Pool Corp. (NASDAQ:POOL) last posted its quarterly earnings results on Thursday, October 20th. The company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The company had revenue of $691.40 million for the quarter, compared to the consensus estimate of $693.02 million. Pool Corp. had a net margin of 5.86% and a return on equity of 58.92%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. Analysts forecast that Pool Corp. will post $3.45 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Wednesday, November 9th were given a dividend of $0.31 per share. 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 (DPR) is 35.94%.
Several hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Pool Corp. by 12.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,608,080 shares of the company’s stock worth $151,996,000 after buying an additional 181,577 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Pool Corp. by 4.0% in the third quarter. BlackRock Fund Advisors now owns 1,550,758 shares of the company’s stock worth $146,578,000 after buying an additional 58,972 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Pool Corp. by 2.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,265,881 shares of the company’s stock worth $119,651,000 after buying an additional 24,350 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Pool Corp. by 19.1% in the third quarter. Wells Fargo & Company MN now owns 941,818 shares of the company’s stock worth $89,019,000 after buying an additional 150,853 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in Pool Corp. by 1.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 749,280 shares of the company’s stock worth $70,454,000 after buying an additional 12,119 shares in the last quarter. Institutional investors and hedge funds own 91.93% of the company’s stock.
About Pool Corp.
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).