Zacks Investment Research lowered shares of Pool (NASDAQ:POOL) from a buy rating to a hold rating in a research note released on Friday morning.
According to Zacks, “Shares of Pool have outperformed the industry in a year’s time. In fact, third-quarter 2018 marked the 33rd consecutive quarter of year-over-year sales growth for Pool. Top-line growth can be primarily attributed to improved performance of its base business. Notably, the company should continue benefiting in the near term, backed by base business sales growth and favorable trends in the housing market. Pool also raised its full-year guidance. In addition, continuous growth in remodel and replacement sectors of its business is a major positive. The company’s leading market share position and opportunistic expansion strategies position it well for revenue growth. Nonetheless, seasonality of Pool’s business and macroeconomic headwinds due to expanded global presence create headwinds.”
POOL has been the subject of a number of other reports. Jefferies Financial Group began coverage on shares of Pool in a research note on Friday, October 12th. They issued a hold rating and a $145.00 price target for the company. Robert W. Baird reduced their price target on shares of Pool from $163.00 to $155.00 and set a neutral rating for the company in a research note on Friday, October 19th. Finally, BidaskClub lowered shares of Pool from a buy rating to a hold rating in a research report on Friday, October 12th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Pool currently has a consensus rating of Hold and a consensus target price of $160.40.
Pool (NASDAQ:POOL) last announced its quarterly earnings results on Thursday, October 18th. The specialty retailer reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Pool had a net margin of 8.21% and a return on equity of 78.04%. The firm had revenue of $811.31 million during the quarter. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The business’s revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Pool will post 5.66 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 29th. Investors of record on Thursday, November 15th were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, November 14th. This represents a $1.80 annualized dividend and a yield of 1.18%. Pool’s dividend payout ratio (DPR) is 45.11%.
In related news, CEO De La Mesa Manuel J. Perez sold 10,300 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $160.98, for a total transaction of $1,658,094.00. Following the completion of the sale, the chief executive officer now directly owns 69,001 shares in the company, valued at $11,107,780.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO De La Mesa Manuel J. Perez sold 20,448 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $162.28, for a total transaction of $3,318,301.44. Following the sale, the chief executive officer now owns 69,001 shares of the company’s stock, valued at $11,197,482.28. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Paradigm Asset Management Co. LLC purchased a new position in Pool during the third quarter valued at approximately $100,000. HWG Holdings LP purchased a new position in Pool during the third quarter valued at approximately $179,000. NumerixS Investment Technologies Inc lifted its holdings in Pool by 57.1% during the second quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the specialty retailer’s stock valued at $167,000 after purchasing an additional 400 shares in the last quarter. Advisor Partners LLC purchased a new position in Pool during the third quarter valued at approximately $201,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Pool during the third quarter valued at approximately $206,000. Institutional investors own 94.54% of the company’s stock.
Pool Company Profile
Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in North America, Europe, South America, and Australia. The company offers maintenance products, including chemicals, supplies, and pool accessories; repair and replacement parts for pool equipment, such as cleaners, filters, heaters, pumps, and lights; packaged pool kits comprising walls, liners, braces, and coping for in-ground and above-ground pools; pool equipment and components for new pool construction and the remodeling of existing pools; and irrigation and landscape products consisting of irrigation system components, and professional lawn care equipment and supplies.
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