Wells Fargo & Company Forecasts Strong Price Appreciation for Pool (NASDAQ:POOL) Stock

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

Several other equities analysts have also issued reports on the stock. Stephens decreased their price target on shares of Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Robert W. Baird decreased their price target on shares of Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Oppenheimer decreased their price target 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. Stifel Nicolaus set a $300.00 target price on shares of Pool in a research note on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Pool in a research note on Tuesday, April 1st. They issued a "hold" rating and a $344.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Pool presently has a consensus rating of "Hold" and a consensus target price of $344.50.

Pool Trading Up 2.2%

POOL traded up $6.46 during trading on Tuesday, reaching $302.64. 577,077 shares of the company's stock were exchanged, compared to its average volume of 428,136. The company's fifty day moving average price is $300.75 and its 200-day moving average price is $320.95. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.53 and a current ratio of 1.79. Pool has a fifty-two week low of $282.22 and a fifty-two week high of $395.60. The firm has a market capitalization of $11.38 billion, a PE ratio of 28.39, a P/E/G ratio of 3.86 and a beta of 1.10.

Pool (NASDAQ:POOL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.10). Pool had a net margin of 7.77% and a return on equity of 30.11%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm earned $1.85 EPS. Pool's quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities analysts forecast that Pool will post 11.32 EPS for the current year.

Pool Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $1.25 per share. This is a positive change from Pool's previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.65%. The ex-dividend date was Thursday, May 15th. Pool's dividend payout ratio is 46.90%.

Pool declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the specialty retailer to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Focus Partners Wealth grew its holdings in Pool by 907.2% during the fourth quarter. Focus Partners Wealth now owns 37,399 shares of the specialty retailer's stock worth $12,768,000 after purchasing an additional 33,686 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Pool by 12.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,954 shares of the specialty retailer's stock valued at $1,560,000 after buying an additional 559 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Pool by 3.1% during the 1st quarter. Amalgamated Bank now owns 8,076 shares of the specialty retailer's stock worth $2,571,000 after acquiring an additional 246 shares during the period. MFG Wealth Management Inc. acquired a new position in shares of Pool during the 1st quarter worth approximately $921,000. Finally, Signal Advisors Wealth LLC raised its stake in Pool by 40.4% in the 1st quarter. Signal Advisors Wealth LLC now owns 3,383 shares of the specialty retailer's stock valued at $1,077,000 after acquiring an additional 974 shares during the period. 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.