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

Leslie’s, Inc. (NASDAQ:LESL)’s stock price gapped down prior to trading 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 equities research analysts also recently weighed in on LESL. Mizuho cut their target price on 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 cut their price objective on Leslie’s from $4.00 to $3.75 and set a “market perform” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Leslie’s presently has a consensus rating of “Hold” and a consensus price target of $3.89.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Leslie’s by 6.3% in the second quarter. The Manufacturers Life Insurance Company now owns 81,345 shares of the company’s stock valued at $341,000 after purchasing an additional 4,798 shares in the last quarter. Integrated Investment Consultants LLC lifted its stake in Leslie’s by 36.1% in the 3rd quarter. Integrated Investment Consultants LLC now owns 21,500 shares of the company’s stock worth $68,000 after acquiring an additional 5,700 shares in the last quarter. IHT Wealth Management LLC boosted its position in Leslie’s by 52.6% during the 3rd quarter. IHT Wealth Management LLC now owns 16,760 shares of the company’s stock worth $51,000 after acquiring an additional 5,776 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Leslie’s by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 86,970 shares of the company’s stock valued at $566,000 after acquiring an additional 6,101 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Leslie’s in the 2nd quarter valued at about $26,000.

Leslie’s Stock Up 1.2 %

The firm has a market capitalization of $458.58 million, a PE ratio of -20.92, a price-to-earnings-growth ratio of 2.37 and a beta of 1.19. The business’s 50-day moving average price is $2.85 and its 200-day moving average price is $3.48.

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.