Pool Corp. Stock Rating Reaffirmed by Zacks (POOL)
Pool Corp. (NASDAQ:POOL)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Monday, American Banking News.com reports. They currently have a $56.00 price target on the stock. Zacks‘ price target would indicate a potential upside of 4.61% from the stock’s previous close.
Zacks‘ analyst wrote, “Pool delivered mixed third-quarter 2013 results, missing the Zacks Consensus Estimate for earnings by 6.9% but beating the same for revenues by 1.1%. Both earnings and revenues grew year over year. Although Pool appears to hold promise over the longer term based on some commendable attributes like a steady turnaround of the Green business and overall market share gains, its performance in the upcoming quarters can be a concern mainly due to a shift in consumer spending. For 2013, management narrowed its expectation for earnings per share in the range of $2.03-$2.08 from the prior range of $2.03 $2.13. This is the second time that Pool has reduced its guidance this year. Also, weak seasonality in the upcoming quarter prevents us from being optimistic on the company and keeps us on the sidelines at the current level. We remain Neutral on the stock.”
Separately, analysts at Robert W. Baird raised their price target on shares of Pool Corp. from $56.00 to $59.00 in a research note to investors on Friday, October 4th. They now have a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $55.60.
Pool Corp. (NASDAQ:POOL) traded down 0.24% on Monday, hitting $53.40. 120,317 shares of the company’s stock traded hands. Pool Corp. has a 52-week low of $39.23 and a 52-week high of $58.87. The stock’s 50-day moving average is $54.96 and its 200-day moving average is $52.. The company has a market cap of $2.477 billion and a price-to-earnings ratio of 27.12.
Pool Corp. (NASDAQ:POOL) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.04. The company had revenue of $578.20 million for the quarter, compared to the consensus estimate of $569.68 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis.
Pool Corporation is a wholesale distributor of swimming pool supplies, equipment and related leisure products.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.