Oppenheimer Boosts Pool (NASDAQ:POOL) Price Target to $346.00

Key Points

• Oppenheimer has raised its price target for Pool Corporation (NASDAQ:POOL) from $322 to $346, maintaining an "outperform" rating which suggests a potential upside of 7.86% from the current stock price.
• The company recently announced a $600 million share repurchase plan, indicating that its Board of Directors believes the stock is currently undervalued.
• Despite mixed ratings from various analysts, the consensus rating for Pool's stock is currently a "Hold" with an average price target of $342.14.

Pool (NASDAQ:POOL - Get Free Report) had its price target increased by Oppenheimer from $322.00 to $346.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the specialty retailer's stock. Oppenheimer's price objective suggests a potential upside of 12.09% from the stock's current price.

A number of other brokerages have also recently issued reports on POOL. Robert W. Baird lifted their target price on Pool from $310.00 to $340.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Stifel Nicolaus set a $300.00 price target on Pool in a report on Friday, April 25th. Wells Fargo & Company lifted their price target on Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Pool in a report on Tuesday, April 1st. They set a "hold" rating and a $344.00 price target on the stock. Finally, Stephens lowered their price target on Pool from $400.00 to $350.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Pool presently has a consensus rating of "Hold" and a consensus price target of $342.14.

Pool Stock Performance

Pool stock traded up $0.53 during mid-day trading on Tuesday, hitting $308.67. 493,254 shares of the company's stock traded hands, compared to its average volume of 526,936. The firm has a 50 day moving average price of $301.50 and a 200 day moving average price of $317.69. The company has a quick ratio of 0.87, a current ratio of 2.52 and a debt-to-equity ratio of 0.93. The company has a market cap of $11.61 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 4.31 and a beta of 1.10. Pool has a one year low of $282.22 and a one year high of $395.60.

Pool (NASDAQ:POOL - Get Free Report) last announced its earnings results on Thursday, July 24th. The specialty retailer reported $5.17 earnings per share for the quarter, beating the consensus estimate of $5.12 by $0.05. Pool had a return on equity of 30.99% and a net margin of 7.79%. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the business earned $4.99 EPS. The firm's revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts forecast that Pool will post 11.32 EPS for the current year.

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

Hedge Funds Weigh In On Pool

Several large investors have recently made changes to their positions in POOL. Whipplewood Advisors LLC increased its position in Pool by 471.4% in the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the specialty retailer's stock worth $25,000 after buying an additional 66 shares during the period. City Holding Co. bought a new position in Pool in the first quarter worth $26,000. Versant Capital Management Inc grew its stake in shares of Pool by 790.9% in the 1st quarter. Versant Capital Management Inc now owns 98 shares of the specialty retailer's stock valued at $31,000 after purchasing an additional 87 shares during the period. Sentry Investment Management LLC bought a new stake in shares of Pool in the 1st quarter valued at approximately $30,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Pool in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 98.99% of the company's stock.

Pool Company Profile

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.