Wedbush issues “Outperform” Rating on Pool Corporation (POOL)

Pool Corporation (POOL) was Reiterated by Wedbush to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 120 from a previous price target of $109 . Wedbush advised their Clients and Investors in a research report released on Feb 14, 2017.

On the company’s financial health, Pool Corporation reported $1.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $1.01. The company had revenue of $691.50 million for the quarter, compared to analysts expectations of $693.99 million. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.

Several company insiders have filed Insider transactions , on Aug 3, 2016, Hart Melanie Housey (CONTROLLER/CHIEF ACCOUNTING OF) sold 2,000 shares at $102.31 per share price. According to the SEC, on Aug 2, 2016, Arthur D Cook (GROUP VICE PRESIDENT) sold 18,000 shares at $102.18 per share price. On Jul 28, 2016, Mark W Joslin (SENIOR VICE PRESIDENT/CFO) sold 7,500 shares at $100.85 per share price, according to the Form-4 filing with the securities and exchange commission.

Pool Corporation opened for trading at $109.2 and hit $110 on the upside on Friday, eventually ending the session at $109.86, with a gain of 0.46% or 0.5 points. The heightened volatility saw the trading volume jump to 1,61,172 shares. Company has a market cap of $4,542 M.

Pool Corporation is a distributor of swimming pool supplies equipment and related leisure products. The Company is also a distributor of irrigation and landscape products. The Company operates approximately 328 sales centers in North America Europe South America and Australia through its four distribution networks: SCP Distributors (SCP); Superior Pool Products (Superior); Horizon Distributors (Horizon) and National Pool Tile (NPT). The Company’s product offerings also include building materials used for pool construction installations and remodeling such as concrete and pool surfacing and decking materials. The Company’s products include maintenance products repair and replacement parts for pool equipment packaged pool kits pool equipment and components for pool construction and irrigation and landscape products among others.

Pool Corporation

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