Pool Corporation (POOL) Stock Price Target Moved to $120.00 at Wedbush

Pool Corporation (NASDAQ: POOL) shares rose on Tuesday February 14 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.

Meanwhile U.S. stocks opened slightly lower on Tuesday. The main three benchmarks retreated after touching the latest in a series of record highs on Monday, with the S&P 500 index SPX, -0.09% down two points, or 0.1%, to 2,326.

The Dow Jones Industrial Average DJIA, -0.02% fell 34 points, or 0.2%, to 20,381. The Nasdaq Composite Index COMP, -0.13% shed eight points, or 0.1%, to 5,756.

Pool Corporation (NASDAQ: POOL) had its price target boosted by equities researchers at Wedbush from $109.00 to $120.00. With a rating of Outperform on the stock, Pool Corporation has a 52-week high of $110.80. The one-year price target of $109.60 is lower than the opening price of $110.66, that has caused a fair amount of other analysts to report on the company in recent days.

Yesterday Pool Corporation (NASDAQ: POOL) shares last traded at $110.79, which represents an increase of $0.57 compared to the previous closing price. Opening at $110.66, they ranged from $110.18 and $110.80 throughout the day.

Pool Corporation (NASDAQ: POOL) currently has a market cap of 4.58B.

Pool Corporation (NASDAQ: POOL) Average Daily Trading Volume

The stock’s average daily volume is 204,952 shares out of a total float 39,431,000 and some 10,521 shares crossed the trading desk yesterday, 66 percent lower than the norm. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors have substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.

Pool Corporation (NASDAQ: POOL) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind, Pool Corporation (NASDAQ: POOL) now has a 50-day MA of $105.97 and 200-day MA of $100.16. It has traded in a 52-week range between $76.26 – 110.80 and today’s last price is 0.01%% lower than the 52 week high of $110.80.

Earnings growth is a critical factor to consider when buying stocks and investors identify companies that have raised their earnings by at least 25% for 3 consecutive years.

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