Zacks Investment Research upgraded shares of Pool Corp. (NASDAQ:POOL) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $114.00 target price 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 issued a $115.00 price objective on shares of Pool Corp. in a research report on Monday, October 3rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Pool Corp. has a consensus rating of Buy and an average target price of $97.40.
Shares of Pool Corp. (NASDAQ:POOL) opened at 100.98 on Wednesday. Pool Corp. has a 12 month low of $72.40 and a 12 month high of $103.55. The firm has a market capitalization of $4.17 billion, a P/E ratio of 29.35 and a beta of 0.90. The company’s 50 day moving average price is $95.24 and its 200-day moving average price is $95.40.
Pool Corp. (NASDAQ:POOL) last posted its earnings results on Thursday, October 20th. The company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The company had revenue of $691.40 million for the quarter, compared to analyst estimates of $693.02 million. Pool Corp. had a return on equity of 59.21% and a net margin of 5.86%. Pool Corp.’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. On average, equities analysts predict that Pool Corp. will post $3.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Wednesday, November 9th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 7th. This represents a $1.24 annualized dividend and a yield of 1.23%. Pool Corp.’s dividend payout ratio (DPR) is presently 35.94%.
A number of institutional investors have recently added to or reduced their stakes in POOL. Huntington National Bank increased its position in 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 period. Capstone Asset Management Co. increased its position in 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 period. Great Lakes Advisors LLC increased its position in 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 period. McQueen Ball & Associates Inc. increased its position in 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 period. Finally, Tower Research Capital LLC TRC increased its position in 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 period. Hedge funds and other institutional investors own 91.14% of the company’s stock.
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).