Pool (NASDAQ:POOL) Shares Gap Up After Strong Earnings

Shares of Pool Co. (NASDAQ:POOL) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $350.68, but opened at $380.00. Pool shares last traded at $377.36, with a volume of 148,457 shares changing hands.

The specialty retailer reported $3.26 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.11. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Pool had a return on equity of 32.85% and a net margin of 8.58%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.50 earnings per share.

Pool Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, August 15th. Pool’s payout ratio is 40.47%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Robert W. Baird raised their target price on shares of Pool from $377.00 to $408.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Stifel Nicolaus boosted their target price on Pool from $310.00 to $335.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Loop Capital increased their price target on Pool from $345.00 to $395.00 and gave the stock a “hold” rating in a report on Friday. StockNews.com lowered Pool from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Oppenheimer increased their target price on Pool from $356.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Pool has an average rating of “Hold” and a consensus target price of $367.89.

Institutional Trading of Pool

Several institutional investors and hedge funds have recently made changes to their positions in POOL. Tortoise Investment Management LLC grew its holdings in Pool by 68.9% during the 2nd quarter. Tortoise Investment Management LLC now owns 103 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 42 shares in the last quarter. Crewe Advisors LLC lifted its position in shares of Pool by 232.4% in the 2nd quarter. Crewe Advisors LLC now owns 113 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 79 shares during the period. UMB Bank n.a. boosted its stake in shares of Pool by 26.2% during the second quarter. UMB Bank n.a. now owns 207 shares of the specialty retailer’s stock valued at $64,000 after purchasing an additional 43 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Pool during the second quarter valued at approximately $74,000. Finally, Summit Securities Group LLC purchased a new position in Pool during the second quarter valued at approximately $75,000. 98.99% of the stock is currently owned by institutional investors.

Pool Stock Down 3.0 %

The business’s 50 day moving average is $359.72 and its 200 day moving average is $353.39. The company has a quick ratio of 0.88, a current ratio of 2.48 and a debt-to-equity ratio of 0.75. The company has a market cap of $14.00 billion, a P/E ratio of 30.86, a P/E/G ratio of 2.57 and a beta of 1.01.

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.