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

Shares of Leslie’s, Inc. (NASDAQ:LESL) 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 traded.

A number of other research firms have also recently weighed in on LESL. Mizuho lowered their price objective on shares of Leslie’s from $6.00 to $4.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Telsey Advisory Group decreased their price target on Leslie’s from $4.00 to $3.75 and set a “market perform” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $3.89.

Institutional Investors Weigh In On Leslie’s

Hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in shares of Leslie’s during the second quarter worth approximately $26,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Leslie’s in the 3rd quarter valued at $32,000. Blue Trust Inc. lifted its position 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 purchasing an additional 10,144 shares during the last quarter. IHT Wealth Management LLC grew its stake in shares of Leslie’s by 52.6% during the third quarter. IHT Wealth Management LLC now owns 16,760 shares of the company’s stock worth $51,000 after purchasing an additional 5,776 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in Leslie’s in the second quarter valued at $55,000.

Leslie’s Trading Down 30.2 %

The firm has a market cap of $453.03 million, a PE ratio of 122.50, a P/E/G ratio of 2.16 and a beta of 1.19. The business has a fifty day moving average price of $2.86 and a 200 day moving average price of $3.50.

About Leslie’s

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.