Bank of America Cuts Pool (NASDAQ:POOL) Price Target to $206.00

Pool (NASDAQ:POOL) had its target price trimmed by Bank of America from $226.00 to $206.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an underperform rating on the specialty retailer’s stock.

Other research analysts have also issued reports about the company. Wall Street Zen raised Pool from a “sell” rating to a “hold” rating in a report on Monday, April 27th. Stifel Nicolaus upped their price target on shares of Pool from $210.00 to $235.00 and gave the company a “hold” rating in a report on Monday, July 6th. Wells Fargo & Company reduced their price objective on shares of Pool from $230.00 to $215.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Zacks Research raised shares of Pool from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings downgraded shares of Pool from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $262.00.

Pool Stock Down 0.1%

Shares of POOL stock opened at $196.19 on Monday. Pool has a 1 year low of $172.68 and a 1 year high of $345.00. The stock has a market cap of $7.15 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 2.53 and a beta of 1.05. The business’s fifty day moving average is $195.77 and its 200-day moving average is $216.82. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.55 and a current ratio of 1.87.

Pool (NASDAQ:POOL) last posted its quarterly earnings data on Thursday, April 23rd. The specialty retailer reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.82 billion. Pool had a return on equity of 32.37% and a net margin of 7.57%.The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 EPS. Equities analysts expect that Pool will post 11.05 earnings per share for the current fiscal year.

Pool declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 29th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the specialty retailer to purchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Pool Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a dividend of $1.30 per share. This is a boost from Pool’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, May 14th. Pool’s payout ratio is currently 47.84%.

Insider Activity

In other news, Director David G. Whalen bought 525 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average cost of $190.44 per share, with a total value of $99,981.00. Following the completion of the transaction, the director directly owned 8,936 shares in the company, valued at approximately $1,701,771.84. The trade was a 6.24% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James D. Hope purchased 464 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were purchased at an average price of $194.41 per share, for a total transaction of $90,206.24. Following the acquisition, the director directly owned 3,678 shares of the company’s stock, valued at $715,039.98. This trade represents a 14.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 21,989 shares of company stock valued at $4,042,747. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Pool

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of Pool by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,563,373 shares of the specialty retailer’s stock valued at $794,825,000 after acquiring an additional 357,643 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Pool by 3,831.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,001,987 shares of the specialty retailer’s stock worth $457,955,000 after acquiring an additional 1,951,070 shares in the last quarter. Morgan Stanley boosted its position in Pool by 1.8% during the fourth quarter. Morgan Stanley now owns 1,371,772 shares of the specialty retailer’s stock valued at $313,794,000 after purchasing an additional 23,736 shares during the last quarter. Invesco Ltd. boosted its position in Pool by 21.6% during the fourth quarter. Invesco Ltd. now owns 837,658 shares of the specialty retailer’s stock valued at $191,614,000 after purchasing an additional 148,519 shares during the last quarter. Finally, Southpoint Capital Advisors LP grew its stake in Pool by 66.7% in the first quarter. Southpoint Capital Advisors LP now owns 500,000 shares of the specialty retailer’s stock valued at $101,165,000 after purchasing an additional 200,000 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Trending Headlines about Pool

Here are the key news stories impacting Pool this week:

• Positive Sentiment: Longer-term industry interest remains supportive, with a report projecting Europe’s pool chemicals market to grow to $932.5 million by 2032, which reinforces demand for pool maintenance products and services. Europe Pool Chemicals Market to Reach USD 932.5 Mn by 2032
• Neutral Sentiment: Consumer-interest articles about pool decorating, hygiene, and heating highlight ongoing public engagement with pools, but they are not direct catalysts for Pool Corporation’s earnings or margins. The pool decorating ideas designers use to make backyards feel like vacation The Biggest Hygiene Mistakes People Make in the Pool Pool Heating Solutions for Comfortable Swimming in Every Season
• Neutral Sentiment: Minto Group’s new outdoor pool project in Alberta is a local real-estate amenity announcement, which may modestly reflect healthy construction activity but has no direct impact on POOL’s financial outlook. Minto Group Breaks Ground on Wildflower’s Hillside Hub, Featuring Airdrie’s First Outdoor Pool
• Negative Sentiment: Bank of America reportedly issued a pessimistic forecast for Pool Corporation’s stock, which could weigh on sentiment and reinforce concerns about near-term performance. Bank of America Issues Pessimistic Forecast for Pool (NASDAQ:POOL) Stock Price

Pool Company Profile

Pool Corporation is a leading wholesale distributor of swimming pool supplies, equipment, and related outdoor living products. Headquartered in Covington, Louisiana, the company serves a diverse customer base that includes service professionals, independent retailers, high-volume builders, and national retail chains. Pool Corporation’s extensive branch network enables it to maintain strong local customer relationships while leveraging its scale to source products efficiently from manufacturers around the world.

The company’s product portfolio spans pool and spa chemicals, water treatment equipment, pumps, filters, heaters, automation and control systems, liners, safety covers, and cleaning accessories.