5 Companies that Recently Raised Guidance

In this article, we discuss 5 companies that recently raised their guidance. If you want to read about some more companies that recently raised their guidance, go directly to 10 Companies that Recently Raised Guidance.

5. Pool Corporation (NASDAQ:POOL)

Number of Hedge Fund Holders: 42  

Pool Corporation (NASDAQ:POOL) markets swimming pool supplies, equipment, and related leisure products. The firm posted earnings for the second quarter of 2022 on July 21, reporting earnings per share of $7.63, beating market estimates by $0.11. The revenue over the period was $2.1 billion, up over 17% compared to the revenue over the same period last year but missing estimates by $30 million. The firm increased guidance numbers for earnings, saying it expected annual earnings guidance of up to $19.13 per share against consensus of $18.85.

On June 23, Loop Capital analyst Garik Shmois maintained a Hold rating on Pool Corporation (NASDAQ:POOL) stock and lowered the price target to $370 from $465, noting there was a strong demand and pricing environment for the firm but pressure from inflation. 

At the end of the first quarter of 2022, 42 hedge funds in the database of Insider Monkey held stakes worth $1.2 billion in Pool Corporation (NASDAQ:POOL), compared to 38 in the preceding quarter worth $1.3 billion. 

In its Q1 2022 investor letter, Carillon Tower Advisers highlighted a few stocks and Pool Corporation (NASDAQ:POOL) was one of them. Here is what the fund said:

“Pool Corporation (NASDAQ:POOL) is the world’s largest wholesale distributor of swimming pool supplies, equipment, and related leisure products. After an impressive run, the shares cooled off a bit as investors took some profits on stocks that were perceived to have benefitted from the pandemic. Despite this, the firm continues to see strong demand and remains well positioned to capitalize on a number of firmly established secular trends. Migration trends toward the Sunbelt as well as the desire consumers have shown to invest in their outdoor living and entertainment spaces have resulted in healthy fundamentals for the pool industry going forward.”