Pool Corp. (NASDAQ:POOL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 restated an “outperform” rating and set a $109.00 price target on shares of Pool Corp. in a report on Friday, October 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Pool Corp. currently has an average rating of “Buy” and a consensus price target of $97.40.
Shares of Pool Corp. (NASDAQ:POOL) opened at 100.98 on Friday. The firm has a market capitalization of $4.17 billion, a P/E ratio of 29.35 and a beta of 0.90. The firm’s 50-day moving average is $95.24 and its 200 day moving average is $95.40. Pool Corp. has a one year low of $72.40 and a one year high of $103.55.
Pool Corp. (NASDAQ:POOL) last released its earnings results on Thursday, October 20th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.02. Pool Corp. had a return on equity of 59.21% and a net margin of 5.86%. The firm had revenue of $691.40 million for the quarter, compared to analysts’ expectations of $693.02 million. During the same quarter in the previous year, the business posted $0.90 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts predict that Pool Corp. will post $3.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Wednesday, November 9th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.23%. The ex-dividend date was Monday, November 7th. Pool Corp.’s payout ratio is presently 35.94%.
A number of hedge funds have recently made changes to their positions in POOL. Hennessy Advisors Inc. boosted its stake in shares of Pool Corp. by 3.0% in the second quarter. Hennessy Advisors Inc. now owns 451,300 shares of the company’s stock valued at $42,436,000 after buying an additional 13,000 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of Pool Corp. by 1.2% in the second quarter. Rice Hall James & Associates LLC now owns 262,623 shares of the company’s stock valued at $24,694,000 after buying an additional 3,143 shares during the last quarter. BNP Paribas Arbitrage SA boosted 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 last quarter. Personal Capital Advisors Corp boosted its stake in shares of Pool Corp. by 9.7% in the second quarter. Personal Capital Advisors Corp now owns 142,994 shares of the company’s stock valued at $13,446,000 after buying an additional 12,618 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of Pool Corp. by 64.5% in the second quarter. LS Investment Advisors LLC now owns 2,568 shares of the company’s stock valued at $241,000 after buying an additional 1,007 shares during the last quarter. Institutional investors and hedge funds own 91.14% 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).