Wells Fargo & Company Boosts Pool (NASDAQ:POOL) Price Target to $370.00

Pool (NASDAQ:POOL) had its target price hoisted by research analysts at Wells Fargo & Company from $330.00 to $370.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the specialty retailer’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 1.39% from the company’s previous close.

A number of other equities analysts also recently commented on POOL. The Goldman Sachs Group lifted their target price on Pool from $365.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com downgraded Pool from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. Robert W. Baird boosted their price objective on Pool from $305.00 to $377.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Oppenheimer boosted their price objective on Pool from $356.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Bank of America reduced their price objective on Pool from $338.00 to $290.00 and set an “underperform” rating for the company in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $354.44.

Pool Stock Performance

Shares of POOL stock opened at $364.94 on Monday. 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 business has a 50 day moving average of $356.38 and a two-hundred day moving average of $356.00. Pool has a 52 week low of $293.51 and a 52 week high of $422.73. The company has a market cap of $13.99 billion, a P/E ratio of 28.56, a PEG ratio of 2.73 and a beta of 1.01.

Pool (NASDAQ:POOL) last issued its earnings results on Thursday, July 25th. The specialty retailer reported $4.99 EPS for the quarter, beating analysts’ consensus estimates of $4.90 by $0.09. Pool had a return on equity of 32.85% and a net margin of 8.58%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm posted $5.89 earnings per share. Pool’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, analysts anticipate that Pool will post 10.99 EPS for the current year.

Institutional Investors Weigh In On Pool

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tortoise Investment Management LLC raised its holdings in Pool by 68.9% during the second quarter. Tortoise Investment Management LLC now owns 103 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 42 shares in the last quarter. Crewe Advisors LLC increased its holdings in shares of Pool by 232.4% in the second quarter. Crewe Advisors LLC now owns 113 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 79 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Pool by 221.6% in the first quarter. UMB Bank n.a. now owns 164 shares of the specialty retailer’s stock valued at $66,000 after buying an additional 113 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Pool in the second quarter valued at $74,000. Finally, Summit Securities Group LLC bought a new position in shares of Pool in the second quarter valued at $75,000. Institutional investors own 98.99% of the company’s stock.

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.