Wells Fargo & Company Trims Pool (NASDAQ:POOL) Target Price to $290.00

Pool (NASDAQ:POOL) had its price target decreased by Wells Fargo & Company from $360.00 to $290.00 in a research report released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the specialty retailer’s stock.

A number of other equities analysts also recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Pool from $436.00 to $416.00 and set an outperform rating on the stock in a report on Monday, April 29th. Loop Capital lowered their price target on shares of Pool from $415.00 to $370.00 and set a hold rating on the stock in a report on Tuesday, June 18th. Robert W. Baird lowered their price target on shares of Pool from $380.00 to $305.00 and set a neutral rating on the stock in a report on Tuesday. Finally, Stifel Nicolaus lowered their price target on shares of Pool from $370.00 to $360.00 and set a hold rating on the stock in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $328.00.

Pool Stock Performance

POOL opened at $307.57 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 3.75 and a beta of 1.02. The company’s 50 day moving average is $356.45 and its 200 day moving average is $378.12. Pool has a 12-month low of $299.24 and a 12-month high of $422.73.

Pool (NASDAQ:POOL) last posted its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.02). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Pool had a return on equity of 35.49% and a net margin of 9.17%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 EPS. On average, equities research analysts predict that Pool will post 11.24 EPS for the current year.

Pool Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.56%. This is a boost from Pool’s previous quarterly dividend of $1.10. Pool’s dividend payout ratio (DPR) is presently 37.56%.

Institutional Investors Weigh In On Pool

Several large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in Pool by 56.7% in the third quarter. JPMorgan Chase & Co. now owns 865,362 shares of the specialty retailer’s stock worth $308,156,000 after purchasing an additional 313,190 shares during the last quarter. Blair William & Co. IL increased its position in Pool by 6.0% during the first quarter. Blair William & Co. IL now owns 843,650 shares of the specialty retailer’s stock valued at $340,413,000 after acquiring an additional 47,640 shares during the last quarter. Wasatch Advisors LP increased its position in Pool by 9.6% during the first quarter. Wasatch Advisors LP now owns 525,004 shares of the specialty retailer’s stock valued at $211,839,000 after acquiring an additional 45,953 shares during the last quarter. Northern Trust Corp increased its position in Pool by 8.2% during the third quarter. Northern Trust Corp now owns 442,142 shares of the specialty retailer’s stock valued at $157,447,000 after acquiring an additional 33,664 shares during the last quarter. Finally, London Co. of Virginia increased its position in Pool by 0.9% during the third quarter. London Co. of Virginia now owns 395,867 shares of the specialty retailer’s stock valued at $140,968,000 after acquiring an additional 3,597 shares during the last quarter. Institutional investors 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.