Pool Corp falls after brokerages cut PT

Pool

29/04/2024 18:54

** Swimming pool products distributor Pool Corp's  POOL.O 
shares fall 1.7% to $364.75 
    ** Oppenheimer cuts PT to $416 from $436, Stifel cuts PT to
$360 from $370
    ** "With Q1 2024 demand slightly softer than expected, we're
modifying our 2024 EPS to $13.20 from $13.60, but expect POOL's
gross profit and operating profit to inflect positively in H2
2024 on the way to a stronger 2025" - Oppenheimer
    ** "Macroeconomic concerns have throttled the (U.S. pool)
category's torque around remodel/new construction while the
rightsizing and volatility around weather has yielded near-term
competitive pressure" - Stifel
    ** Five brokerages rate the stock "buy" or higher, seven
"hold" and one "sell"; their median PT is $390 - LSEG data
    ** Stock had fallen 7.8% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))