Pool (NASDAQ:POOL) Sets New 12-Month Low on Analyst Downgrade

Pool Co. (NASDAQ:POOL)’s stock price reached a new 52-week low on Tuesday after Bank of America lowered their price target on the stock from $338.00 to $290.00. Bank of America currently has an underperform rating on the stock. Pool traded as low as $299.24 and last traded at $312.18, with a volume of 175653 shares trading hands. The stock had previously closed at $337.91.

Several other analysts have also weighed in on the stock. Robert W. Baird lowered their price objective on shares of Pool from $380.00 to $305.00 and set a “neutral” rating for the company in a research note on Tuesday. Loop Capital reduced their price target on shares of Pool from $370.00 to $305.00 and set a “hold” rating for the company in a research report on Tuesday. Stephens reduced their price target on shares of Pool from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Tuesday. Wells Fargo & Company reduced their price target on shares of Pool from $360.00 to $290.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Oppenheimer reduced their price target on shares of Pool from $416.00 to $356.00 and set an “outperform” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $328.00.

Institutional Investors Weigh In On Pool

A number of hedge funds have recently made changes to their positions in POOL. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Pool during the 4th quarter worth $28,000. Stuart Chaussee & Associates Inc. raised its stake in Pool by 250.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 77 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 55 shares during the period. CVA Family Office LLC bought a new stake in Pool in the 4th quarter valued at about $34,000. Lindbrook Capital LLC raised its stake in Pool by 73.7% in the 4th quarter. Lindbrook Capital LLC now owns 99 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 42 shares during the period. Finally, VisionPoint Advisory Group LLC raised its stake in Pool by 11,800.0% in the 4th quarter. VisionPoint Advisory Group LLC now owns 119 shares of the specialty retailer’s stock valued at $47,000 after acquiring an additional 118 shares during the period. 98.99% of the stock is currently owned by institutional investors.

Pool Stock Up 0.5 %

The stock has a 50 day moving average of $357.56 and a 200-day moving average of $378.61. The firm has a market capitalization of $11.97 billion, a P/E ratio of 24.44, a PEG ratio of 3.75 and a beta of 1.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 1.88.

Pool (NASDAQ:POOL) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.02). Pool had a net margin of 9.17% and a return on equity of 35.49%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company earned $2.46 earnings per share. The company’s quarterly revenue was down 7.1% on a year-over-year basis. Research analysts predict that Pool Co. will post 11.24 earnings per share for the current fiscal year.

Pool Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.54%. This is an increase from Pool’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Wednesday, May 15th. Pool’s dividend payout ratio is presently 37.56%.

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.