PiperJaffray Reports on Pool

PiperJaffray commented on Pool (NASDAQ: POOL) in a report released today. In the report, PiperJaffray was mixed in its assessment of the company.

PiperJaffray writes, "We are raising estimates and our price target for POOL shares as pool construction permits are solidly positive y/y through April of this year across all the major pool markets. In addition, we believe recent share repurchases and POOL's newly announced repurchase program are additional positives. We expect repurchases to offset any potential dilutive options and potentially put a floor on any potential downside in shares. We do remain Neutral given the recent appreciation in shares and overall pool construction that remain significantly depressed despite progress."

PiperJaffray currently has a Neutral rating on Pool. Shares of Pool closed at $29.32 on Thursday, up from $28.85 at the opening bell.