Pool Corporation (POOL) Short Interest Update
Pool Corporation (NASDAQ:POOL) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,149,541 shares, an increase of 50.8% from the July 14th total of 762,271 shares. Based on an average trading volume of 535,961 shares, the short-interest ratio is presently 2.1 days. Currently, 2.9% of the shares of the company are short sold.
Several research firms have recently issued reports on POOL. Zacks Investment Research upgraded shares of Pool Corporation from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a research report on Tuesday, July 25th. Johnson Rice upgraded shares of Pool Corporation from an “accumulate” rating to a “buy” rating in a research report on Monday, July 24th. Finally, BidaskClub upgraded shares of Pool Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. Five research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $125.67.
Shares of 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 cap of $4.47 billion, a PE ratio of 28.21 and a beta of 0.91. The stock’s 50 day moving average is $113.60 and its 200 day moving average is $116.46.
Pool Corporation (NASDAQ:POOL) last announced its earnings results on Thursday, July 20th. The specialty retailer reported $2.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.24 by $0.03. The business had revenue of $988.16 million for the quarter. Pool Corporation had a return on equity of 63.34% and a net margin of 6.15%. Pool Corporation’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $1.98 earnings per share. Equities analysts forecast that Pool Corporation will post $4.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, August 7th. Pool Corporation’s payout ratio is 38.74%.
Pool Corporation declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 3rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the specialty retailer to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. TrimTabs Asset Management LLC purchased a new position in Pool Corporation during the first quarter valued at approximately $124,000. FNY Partners Fund LP purchased a new position in Pool Corporation during the first quarter valued at approximately $126,000. Northwestern Mutual Wealth Management Co. increased its position 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 valued at $134,000 after buying an additional 1,055 shares in the last quarter. Huntington National Bank increased its position in Pool Corporation by 27.9% in the second quarter. Huntington National Bank now owns 1,481 shares of the specialty retailer’s stock valued at $174,000 after buying an additional 323 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Pool Corporation during the second quarter valued at approximately $188,000. 92.59% of the stock is owned by institutional investors and hedge funds.
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About Pool Corporation
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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