Pool (NASDAQ:POOL) Share Price Breaks Above 200 Day Moving Average – Here’s Why

Pool Corporation (NASDAQ:POOL) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $203.19 and traded as high as $204.15. Pool shares last traded at $204.12, with a volume of 611,046 shares.

Key Pool News

Here are the key news stories impacting Pool this week:

• Positive Sentiment: Pool Corporation declared a quarterly cash dividend of $1.30 per share, payable November 25 to shareholders of record on November 11. The dividend represents $5.20 in annualized payments and a yield of approximately 2.7%, which may support investor demand for the stock. Pool Corporation Declares Quarterly Cash Dividend
• Neutral Sentiment: The dividend’s ex-dividend date is November 10. Because the payment is consistent with Pool’s regular shareholder-return program, the announcement is generally supportive but is unlikely by itself to materially change earnings expectations. Pool Corporation Declares Quarterly Cash Dividend Payment

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on POOL. Deutsche Bank Aktiengesellschaft set a $185.00 target price on shares of Pool in a research note on Friday, July 24th. Oppenheimer cut their price target on Pool from $280.00 to $227.00 and set an “outperform” rating on the stock in a research note on Friday, July 24th. Wells Fargo & Company raised their price objective on Pool from $165.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 23rd. Bank of America reduced their price objective on Pool from $226.00 to $206.00 and set an “underperform” rating for the company in a research report on Monday, July 20th. Finally, Longbow Research cut Pool from a “buy” rating to a “neutral” rating in a research note on Monday, October 19th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Pool currently has a consensus rating of “Hold” and an average target price of $227.70.

Pool Stock Up 4.4%

The company has a 50 day moving average price of $174.59 and a two-hundred day moving average price of $203.19. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.46 and a quick ratio of 0.86. The stock has a market cap of $7.42 billion, a PE ratio of 18.78, a PEG ratio of 2.97 and a beta of 1.05.

Pool (NASDAQ:POOL) last announced its quarterly earnings results on Thursday, October 22nd. The specialty retailer reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.36 by $0.04. Pool had a return on equity of 33.50% and a net margin of 7.27%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company posted $3.39 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts expect that Pool Corporation will post 10.95 EPS for the current year.

Pool Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $5.20 dividend on an annualized basis and a yield of 2.5%. Pool’s payout ratio is 47.84%.

Institutional Trading of Pool

Institutional investors have recently made changes to their positions in the stock. Deprince Race & Zollo Inc. boosted its stake in shares of Pool by 197.5% in the 1st quarter. Deprince Race & Zollo Inc. now owns 170,676 shares of the specialty retailer’s stock worth $34,533,000 after buying an additional 113,306 shares during the last quarter. Stanley Capital Management LLC bought a new stake in shares of Pool in the second quarter worth $13,324,000. Formuepleje A S grew its holdings in shares of Pool by 8.2% in the second quarter. Formuepleje A S now owns 157,327 shares of the specialty retailer’s stock worth $33,810,000 after acquiring an additional 11,868 shares during the period. Freestone Grove Partners LP purchased a new stake in Pool during the second quarter valued at $2,448,000. Finally, Bank of America Corp DE increased its position in Pool by 48.0% during the first quarter. Bank of America Corp DE now owns 261,402 shares of the specialty retailer’s stock valued at $52,889,000 after acquiring an additional 84,817 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Pool Company Profile

Pool Corporation, doing business as POOLCORP, is a wholesale distributor of swimming pool and outdoor living products. The company supplies pool contractors, retailers, builders, and service professionals with products used to construct, renovate, maintain, and enhance residential and commercial pools.

Its product offerings include swimming pool equipment, pumps, filters, heaters, cleaners, lighting, chemicals, replacement parts, and maintenance supplies. POOLCORP also distributes products for outdoor living, including patio and recreational items, as well as irrigation and landscape-related supplies in selected markets.

Founded in 1993 and headquartered in Covington, Louisiana, POOLCORP serves customers through a network of distribution centers and sales operations in the United States, Canada, Europe, and Australia.