Pool Corporation, trading under the NASDAQ symbol POOL, opened on Friday, May 14th at $327.08. The firm’s recent fifty-day moving average for its stock price is at an affordable rate of $339.38 while its 200-day moving average is even more reasonable at $341.40, showcasing a promising trend for investors. Notably, Pool has had a successful year in trading with a 1-year low of $278.10 but an impressive 1-year high of $423.97.
A company’s financial health is often scrutinized by investors before making any moves and Pool displays commendable levels with favorable ratios across the board; having a debt-to-equity ratio of 1.06, current ratio of 2.36, and a quick ratio of 0.63 – aspects that all indicate consistent growth over time for such firms.
With a market cap value of over $12 billion and sharing it’s earnings per share estimated to be around $16 annually to shareholders, Pool has a reasonably-priced P/E ratio of around 19.46 and shows signs of growth potential as it boasts an impressive price-to-earnings-growth ratio that currently stands at 3.78 and a beta value trending upwards towards desirability scoring at .93.
Following Loop Capital’s opinion on the promise Pool ‘s stock holds causing them to decrease their price objective from $415 -410 on April 21st on the rating scale placed by ten legitimate research firms Loop Capital appears very much in line with other analysts praising Pool’s growth projection nature such as The Goldman Sachs Group Inc who raised their POOL rating to “buy” as well as raising the stock’s price objective from $375 -$425 back in February.
Deutsche Bank Aktiengesellschaft followed similar patterns earlier this year giving POOL shares a bullish outlook subduing their pool price objectives from recent tracking highs to the heights of $445. Firms such as Stephens have also upgraded Pool from an “equal weight” rating to an “overweight” rating while upping the target pricing for POOL shares.
Jennifer M. Neil, Pool’s General Counsel, recently sold 2,333 shares of Pool’s stock on May 9th at an average cost of $352 per share bringing in a total transaction value of $821,216.00 that significantly increases the company’s worth once reported in corporate statements which is why insiders owning 3% of the stocks have a significant impact on Pool’s performance.
All these factors tend to indicate a promising growth trajectory path for Pool Corporation that investors can leverage and capitalize on even better yields turning fewer profits into more desirable gains.
Pool Corp (NASDAQ: POOL) enjoys strong investor confidence and growth trajectory
Pool Corp (NASDAQ: POOL), the Louisiana-based specialty retailer of swimming pool products, has been in the news recently for all the right reasons. According to Zacks Research, there is a strong likelihood that Q3 2023 earnings per share estimates for Pool will exceed forecasts and reach around $4.30 per share, as compared to earlier expectations of $4.28 per share.
The latest development has further bolstered investor confidence and prompted several institutional investors and hedge funds to modify their holdings in Pool stock. Baillie Gifford & Co., for instance, purchased an additional 659,984 shares during Q1 2023, increasing its stake in Pool by a staggering 942,834.3% and taking its total holdings to 660,054 shares worth $226,029,000.
At the same time, Morgan Stanley raised its stake in Pool by 62.4% during Q4 2023 after acquiring an additional 462,507 shares worth $364,021,000. Similarly, Premier Fund Managers Ltd grew its stake in Pool by a whopping 478.5% during Q4 2023 after purchasing an additional 569,356 shares worth $40,974000.
These impressive numbers are not just limited to these three institutions; others such as JPMorgan Chase & Co., Renaissance Technologies LLC have also followed suit and bought substantial stakes in Pool during recent quarters.
As we move forward into 2024 and beyond; if Zacks Research is anything to go by; things appear bright for Pool investors – with estimates for full-year earnings at $15.09 per share on average between now until early next year.
Pool’s continued growth trajectory can be attributed to factors such as increased demand for swimming pool products due to more people working from home since the onset of the COVID-19 pandemic. In conclusion; there seems no better time than now for those who still haven’t committed to Pool Corp stock to do so and reap the benefits of strong earnings.
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