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

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Leslie’s, Inc. (NASDAQ:LESLGet Rating)’s stock price gapped down prior to trading 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.

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

In other news, insider Moyo Labode sold 4,696 shares of Leslie’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $17.48, for a total value of $82,086.08. Following the completion of the transaction, the insider now owns 11,554 shares in the company, valued at approximately $201,963.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.60% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Spire Wealth Management purchased a new position in shares of Leslie’s in the 4th quarter worth approximately $29,000. Captrust Financial Advisors boosted its holdings in Leslie’s by 325.3% during 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 purchased a new position in Leslie’s during the 1st quarter valued at $97,000. Point72 Hong Kong Ltd purchased a new position in Leslie’s during the 1st quarter valued at $112,000. Finally, Islay Capital Management LLC purchased a new position in Leslie’s during the 4th quarter valued at $138,000.

The stock has a fifty day moving average of $18.55 and a 200-day moving average of $20.23. The company has a market cap of $2.78 billion, a PE ratio of 21.10, a PEG ratio of 1.17 and a beta of 0.55.

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

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