Pool Corp. Stock Rating Reaffirmed by Zacks (POOL)
Pool Corp. (NASDAQ:POOL)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Friday, American Banking News.com reports. They currently have a $60.00 price objective on the stock. Zacks‘ target price suggests a potential upside of 4.60% 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. The company’s business has been showing improving trends with some recovery in the housing market. Moreover, maintenance of pools ensured a recurring revenue stream for the company even during the economic downturn. However, the economy is yet to recover fully. Also, weak seasonality in the upcoming quarter prevents us from being too optimistic on the stock at the current level. Management has also lowered its earnings per share guidance for 2013 twice during 2013 on the back of unfavorable weather conditions. We therefore maintain our Neutral recommendation on the stock. “
Pool Corp. (NASDAQ:POOL) traded down 0.35% on Friday, hitting $57.16. 57,435 shares of the company’s stock traded hands. Pool Corp. has a 52 week low of $42.79 and a 52 week high of $58.87. The stock’s 50-day moving average is $56.08 and its 200-day moving average is $54.48. The company has a market cap of $2.626 billion and a price-to-earnings ratio of 29.06.
Pool Corp. (NASDAQ:POOL) last issued its quarterly earnings data 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.
Separately, analysts at Stephens initiated coverage on shares of Pool Corp. in a research note to investors on Monday, November 4th. They set an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $58.25.
Pool Corporation is a wholesale distributor of swimming pool supplies, equipment and related leisure products.
To view Zacks’ full report, visit www.zacks.com
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