Pool Corp. (POOL) Downgraded by Zacks Investment Research
Pool Corp. (NASDAQ:POOL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “For Pool, the second quarter of 2016 marked the company’s 25th 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. Continually strong growth in the pool renovation category along with reasonable improvement in green segment sales (the Horizon segment), is a major positive. The company’s leading market share position and opportunistic expansion strategies also position it well for revenue growth. Also, estimates have been mostly stable lately ahead of Pool’s third quarter earnings release. Moreover, the company has positive record of earnings surprises in recent quarters. However, seasonality of the company’s business and macroeconomic headwinds raise caution.”
A number of other research analysts have also recently issued reports on the company. Johnson Rice cut Pool Corp. from a “buy” rating to an “accumulate” rating in a research note on Friday, July 15th. Wedbush assumed coverage on Pool Corp. in a research note on Wednesday, August 24th. They set an “outperform” rating and a $115.00 price objective for the company. Finally, Robert W. Baird assumed coverage on Pool Corp. in a research note on Monday, June 6th. They set an “outperform” rating for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $97.80.
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Pool Corp. (NASDAQ:POOL) traded up 0.016% on Wednesday, hitting $93.035. The stock had a trading volume of 50,484 shares. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 28.270 and a beta of 0.81. Pool Corp. has a 52 week low of $71.10 and a 52 week high of $102.86. The firm has a 50-day moving average of $99.06 and a 200 day moving average of $92.71.
Pool Corp. (NASDAQ:POOL) last released its earnings results on Thursday, July 21st. The company reported $1.98 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.05. The company earned $918.90 million during the quarter, compared to analysts’ expectations of $904.82 million. Pool Corp. had a return on equity of 57.51% and a net margin of 5.76%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 EPS. On average, analysts predict that Pool Corp. will post $3.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were paid a $0.31 dividend. The ex-dividend date was Monday, August 8th. This represents a $1.24 annualized dividend and a dividend yield of 1.33%. This is a boost from Pool Corp.’s previous quarterly dividend of $0.26. Pool Corp.’s payout ratio is currently 37.35%.
In other news, insider Hart Melanie Housey sold 2,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $102.31, for a total value of $204,620.00. Following the completion of the transaction, the insider now owns 9,290 shares in the company, valued at $950,459.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark W. Joslin sold 7,500 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $100.85, for a total value of $756,375.00. Following the completion of the transaction, the insider now owns 127,859 shares of the company’s stock, valued at approximately $12,894,580.15. The disclosure for this sale can be found here. 8.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of POOL. GW&K Investment Management LLC raised its stake in shares of Pool Corp. by 84.1% in the first quarter. GW&K Investment Management LLC now owns 62,176 shares of the company’s stock valued at $5,455,000 after buying an additional 28,399 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Pool Corp. by 13.3% in the first quarter. Riverhead Capital Management LLC now owns 8,272 shares of the company’s stock valued at $726,000 after buying an additional 972 shares during the last quarter. BNP Paribas Arbitrage SA raised 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. UBS Group AG raised its stake in shares of Pool Corp. by 37.0% in the first quarter. UBS Group AG now owns 12,993 shares of the company’s stock valued at $1,140,000 after buying an additional 3,508 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Pool Corp. by 6.3% in the first quarter. Prudential Financial Inc. now owns 150,572 shares of the company’s stock valued at $13,211,000 after buying an additional 8,893 shares during the last quarter. Hedge funds and other institutional investors own 92.20% 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).
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