Pool (NASDAQ:POOL) Given New $320.00 Price Target at Wells Fargo & Company

Pool (NASDAQ:POOL) had its price target boosted by Wells Fargo & Company from $300.00 to $320.00 in a report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the specialty retailer’s stock.

Several other analysts also recently issued reports on POOL. Oppenheimer decreased their price objective on shares of Pool from $370.00 to $322.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Robert W. Baird lowered their target price on shares of Pool from $325.00 to $310.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pool in a research report on Tuesday, April 1st. They set a “hold” rating and a $344.00 target price for the company. Stephens lowered their price objective on shares of Pool from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Finally, Stifel Nicolaus set a $300.00 price target on shares of Pool in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $344.50.

Pool Stock Up 2.2%

NASDAQ POOL opened at $302.64 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 0.53. The company’s 50 day simple moving average is $300.92 and its 200 day simple moving average is $320.82. Pool has a 12 month low of $282.22 and a 12 month high of $395.60. The company has a market capitalization of $11.38 billion, a P/E ratio of 28.39, a PEG ratio of 3.79 and a beta of 1.10.

Pool (NASDAQ:POOL) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.10). Pool had a net margin of 7.77% and a return on equity of 30.11%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the firm posted $1.85 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts expect that Pool will post 11.32 earnings per share for the current fiscal year.

Pool announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Pool Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $1.25 dividend. This is an increase from Pool’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $5.00 annualized dividend and a yield of 1.65%. Pool’s dividend payout ratio is presently 46.90%.

Institutional Investors Weigh In On Pool

Several large investors have recently modified their holdings of POOL. Jones Financial Companies Lllp lifted its stake in shares of Pool by 8.4% in the fourth quarter. Jones Financial Companies Lllp now owns 786 shares of the specialty retailer’s stock valued at $268,000 after buying an additional 61 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Pool by 22.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 972 shares of the specialty retailer’s stock valued at $331,000 after purchasing an additional 180 shares during the period. Victory Capital Management Inc. raised its position in shares of Pool by 79.3% in the fourth quarter. Victory Capital Management Inc. now owns 53,081 shares of the specialty retailer’s stock valued at $18,098,000 after purchasing an additional 23,476 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Pool in the fourth quarter valued at approximately $12,438,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Pool during the fourth quarter valued at approximately $412,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

About Pool

Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. 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; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.