Pool Corp. (POOL) Downgraded by Zacks Investment Research to “Hold”
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.”
Several other equities research analysts also recently issued reports on POOL. Robert W. Baird started coverage on shares of Pool Corp. in a research report on Monday, June 6th. They set an outperform rating for the company. Johnson Rice downgraded shares of Pool Corp. from a buy rating to an accumulate rating in a research report on Friday, July 15th. Finally, Wedbush started coverage on shares of Pool Corp. in a research report on Wednesday, August 24th. They issued an outperform rating and a $115.00 price target for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Pool Corp. presently has an average rating of Buy and a consensus target price of $97.80.
Pool Corp. (NASDAQ:POOL) opened at 94.50 on Wednesday. The firm has a 50-day moving average price of $98.85 and a 200-day moving average price of $92.72. Pool Corp. has a 12 month low of $71.10 and a 12 month high of $102.86. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 28.71 and a beta of 0.81.
Pool Corp. (NASDAQ:POOL) last issued its quarterly earnings data on Thursday, July 21st. The company reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The firm earned $918.90 million during the quarter, compared to the consensus estimate of $904.82 million. Pool Corp. had a net margin of 5.76% and a return on equity of 57.51%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $1.75 earnings per share. On average, equities analysts anticipate that Pool Corp. will post $3.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Shareholders of record on Wednesday, August 10th were given a dividend of $0.31 per share. This is an increase from Pool Corp.’s previous quarterly dividend of $0.26. This represents a $1.24 annualized dividend and a yield of 1.33%. The ex-dividend date was Monday, August 8th. Pool Corp.’s payout ratio is currently 37.35%.
In other Pool Corp. news, Director Harlan F. Seymour sold 14,118 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $100.77, for a total transaction of $1,422,670.86. Following the sale, the director now owns 44,626 shares of the company’s stock, valued at $4,496,962.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO De La Mesa Manuel J. Perez sold 30,000 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $100.70, for a total transaction of $3,021,000.00. Following the sale, the chief executive officer now directly owns 72,511 shares in the company, valued at approximately $7,301,857.70. The disclosure for this sale can be found here. Company insiders own 8.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in Pool Corp. by 53.5% in the first quarter. State Street Corp now owns 1,414,849 shares of the company’s stock worth $124,137,000 after buying an additional 493,299 shares during the last quarter. Zebra Capital Management LLC boosted its stake in Pool Corp. by 22.1% in the first quarter. Zebra Capital Management LLC now owns 17,848 shares of the company’s stock worth $1,566,000 after buying an additional 3,233 shares during the last quarter. Huntington Asset Advisors Inc. bought a new stake in Pool Corp. during the first quarter worth $518,000. BlackRock Institutional Trust Company N.A. boosted its stake in Pool Corp. by 16.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,227,624 shares of the company’s stock worth $107,712,000 after buying an additional 176,269 shares during the last quarter. Finally, Insight Capital Research & Management Inc. bought a new stake in Pool Corp. during the first quarter worth $2,078,000. 92.20% of the stock is currently owned by hedge funds and other institutional investors.
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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