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

Shares of Leslie’s, Inc. (NASDAQ:LESLGet Rating) gapped down before the market opened on Thursday after Guggenheim lowered their price target on the stock from $25.00 to $20.00. The stock had previously closed at $14.73, but opened at $14.37. Guggenheim currently has a buy rating on the stock. Leslie’s shares last traded at $14.59, with a volume of 15,681 shares traded.

LESL has been the subject of several other research reports. The Goldman Sachs Group raised shares of Leslie’s from a “neutral” rating to a “buy” rating and lifted their price target for the company from $26.00 to $27.00 in a research report on Monday, April 4th. Telsey Advisory Group reduced their price target on shares of Leslie’s from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, June 7th. Loop Capital downgraded shares of Leslie’s from a “buy” rating to a “hold” rating and reduced their price target for the company from $26.00 to $16.00 in a research report on Thursday. Robert W. Baird reduced their price target on shares of Leslie’s from $28.00 to $25.00 in a research report on Friday, May 6th. Finally, Stifel Nicolaus reduced their price target on shares of Leslie’s from $29.00 to $25.00 in a research report on Tuesday, June 14th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.18.

In other news, insider Moyo Labode sold 4,696 shares of Leslie’s stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $17.48, for a total transaction of $82,086.08. Following the sale, the insider now directly owns 11,554 shares in the company, valued at approximately $201,963.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spire Wealth Management bought a new stake in shares of Leslie’s during the 4th quarter worth $29,000. Captrust Financial Advisors raised its stake in Leslie’s by 325.3% in the 3rd quarter. Captrust Financial Advisors now owns 4,253 shares of the company’s stock valued at $87,000 after acquiring an additional 3,253 shares during the period. Allworth Financial LP bought a new stake in Leslie’s in the 1st quarter valued at about $97,000. Point72 Hong Kong Ltd bought a new stake in Leslie’s in the 1st quarter valued at about $112,000. Finally, Islay Capital Management LLC bought a new stake in Leslie’s in the 4th quarter valued at about $138,000.

The stock has a 50 day moving average of $18.55 and a 200-day moving average of $20.23. The firm has a market capitalization of $2.78 billion, a P/E ratio of 21.10, a PEG ratio of 1.17 and a beta of 0.55.

Leslie’s (NASDAQ:LESLGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Leslie’s had a negative return on equity of 48.04% and a net margin of 9.97%. The business had revenue of $228.07 million during the quarter, compared to analyst estimates of $211.32 million. During the same quarter in the previous year, the firm earned ($0.02) EPS. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, equities research analysts forecast that Leslie’s, Inc. will post 1.03 earnings per share for the current fiscal year.

Leslie’s Company Profile (NASDAQ:LESL)

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 offers pool chemicals consisting of chlorine, sanitizers, water balancers, specialty chemicals, and algae control; pool covers, including winter, solar and safety covers, leaf nets, cover reels, and cover alternatives; pool equipment, which comprise pool cleaners, pool pumps, pool filters, pool heating, and lighting; and pools, such as above ground pools, soft side pools, above ground pools liners and equipment, ladders and rails, and diving boards.

Further Reading

Receive News & Ratings for Leslie's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leslie's and related companies with MarketBeat.com's FREE daily email newsletter.