Leslie’s (NASDAQ:LESL) Shares Gap Down on Analyst Downgrade

Leslie’s, Inc. (NASDAQ:LESL) shares gapped down before the market opened on Tuesday after Robert W. Baird lowered their price target on the stock from $4.00 to $3.50. The stock had previously closed at $3.51, but opened at $2.78. Robert W. Baird currently has a neutral rating on the stock. Leslie’s shares last traded at $2.80, with a volume of 812,857 shares changing hands.

A number of other brokerages also recently issued reports on LESL. Mizuho decreased their price target on Leslie’s from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Telsey Advisory Group cut their price target on shares of Leslie’s from $4.00 to $3.75 and set a “market perform” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Leslie’s currently has an average rating of “Hold” and an average price target of $3.89.

Institutional Trading of Leslie’s

A number of hedge funds and other institutional investors have recently modified their holdings of LESL. nVerses Capital LLC acquired a new stake in Leslie’s during the second quarter worth about $26,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Leslie’s in the 3rd quarter valued at approximately $32,000. Blue Trust Inc. increased its holdings in shares of Leslie’s by 1,089.6% during the 3rd quarter. Blue Trust Inc. now owns 11,075 shares of the company’s stock worth $35,000 after buying an additional 10,144 shares during the last quarter. IHT Wealth Management LLC raised its position in shares of Leslie’s by 52.6% during the 3rd quarter. IHT Wealth Management LLC now owns 16,760 shares of the company’s stock valued at $51,000 after buying an additional 5,776 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Leslie’s in the second quarter valued at approximately $55,000.

Leslie’s Stock Down 30.2 %

The firm has a 50-day moving average of $2.86 and a two-hundred day moving average of $3.50. The company has a market capitalization of $453.03 million, a PE ratio of 122.50, a price-to-earnings-growth ratio of 2.16 and a beta of 1.19.

Leslie’s Company Profile

Leslie’s, Inc operates as a direct-to-consumer pool and spa care brand in the United States. The company markets and sells pool and spa supplies and related products and services. It also offers various pool and spa maintenance items, such as chemicals, equipment and parts, cleaning and maintenance equipment, safety, recreational, and fitness related products.