Why Pool Stock Dropped 10% Last Month
Shares of Pool (NASDAQ: POOL) dropped 10.2% in April, according to data provided by S&P Global Market Intelligence. The swimming pool supply stock drifted lower throughout the month, following the downward trend for the S 500 index. But late in the month it reported financial results of its own that contributed to its monthly losses.
On April 25, Pool reported financial results for the first quarter of 2024, showing net sales of $1.1 billion. The problem is this was a 7% year-over-year drop, which is something that investors didn't want to see even though other financial metrics looked good.
Most analysts looked at Pool's Q1 top-line numbers and lowered their price targets for the stock as a result. For example, Oppenheimer analyst Scott Schneeberger lowered his price target for Pool stock from $436 per share to $416 per share, citing weak demand for its products, according to The Fly.
Source Fool.com
Pool Corp. Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Pool Corp. stock is not clear.
As a result the target price of 370 € shows a slightly positive potential of 10.88% compared to the current price of 333.7 € for Pool Corp..