Pool Corporation (NASDAQ:POOL) Short Interest Update
Pool Corporation (NASDAQ:POOL) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,149,541 shares, a growth of 50.8% from the July 14th total of 762,271 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily trading volume, of 535,961 shares, the days-to-cover ratio is currently 2.1 days.
POOL has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Pool Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Johnson Rice upgraded shares of Pool Corporation from an “accumulate” rating to a “buy” rating in a report on Monday, July 24th. Finally, BidaskClub cut shares of Pool Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Five research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $125.67.
A number of large investors have recently added to or reduced their stakes in POOL. TrimTabs Asset Management LLC purchased a new stake in Pool Corporation during the first quarter worth approximately $124,000. FNY Partners Fund LP purchased a new stake in Pool Corporation during the first quarter worth approximately $126,000. Northwestern Mutual Wealth Management Co. boosted its stake in Pool Corporation by 1,198.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the specialty retailer’s stock worth $134,000 after buying an additional 1,055 shares during the last quarter. Huntington National Bank boosted its stake in Pool Corporation by 27.9% in the second quarter. Huntington National Bank now owns 1,481 shares of the specialty retailer’s stock worth $174,000 after buying an additional 323 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Pool Corporation during the second quarter worth approximately $188,000. Institutional investors own 92.59% of the company’s stock.
Pool Corporation (NASDAQ:POOL) opened at 108.53 on Friday. Pool Corporation has a 52-week low of $88.65 and a 52-week high of $124.26. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 28.21 and a beta of 0.91. The company’s 50 day moving average is $113.60 and its 200-day moving average is $116.46.
Pool Corporation (NASDAQ:POOL) last released its earnings results on Thursday, July 20th. The specialty retailer reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by $0.03. Pool Corporation had a return on equity of 63.34% and a net margin of 6.15%. The firm had revenue of $988.16 million for the quarter. During the same quarter last year, the firm posted $1.98 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts anticipate that Pool Corporation will post $4.21 EPS for the current fiscal year.
Pool Corporation announced that its board has approved a share repurchase program on Wednesday, May 3rd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Monday, August 7th. Pool Corporation’s payout ratio is 38.74%.
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Pool Corporation Company Profile
Pool Corporation is a distributor of swimming pool supplies, equipment and related leisure products. The Company is a distributor of irrigation and landscape products in the United States. As of December 31, 2016, the Company operated 344 sales centers in North America, Europe, South America and Australia, through its four distribution networks, including SCP Distributors (SCP), Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT).
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