12:25 AM EDT, 04/26/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We trim our 12-month target price to $390 from $398, 28.5x our 2024 EPS, below POOL's five-year average forward P/E multiple of 30.4x, reflecting revenue growth risks. We lower our 2024 EPS to $13.69 from $14.07 and 2025's to $14.85 from $15.30. POOL posts Q1 adj-EPS of $1.85, $0.08 below consensus. Revenue of $1,121M (-7.1% Y/Y) was in line with consensus. Adj-EBITDA fell 22.2% Y/Y to $125M, in line with consensus, while margin contracted 220 bps Y/Y to 11.1%. POOL reiterated its 2024 EPS guidance, as unfavorable weather and new pool construction remain challenged (permits down about 15% Y/Y to 20% Y/Y). Renovation and remodel activity also slowed; however, POOL did see some signs of a potential rebound in recent months. We also note strong demand for higher-end pools along with pool maintenance products. While we're encouraged by these recent developments and the launch of POOL360, we still think revenue growth and margins will be pressured due to entry-level new pool constructions and interest rates.