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

Leslie’s, Inc. (NASDAQ:LESL) gapped down before the market opened on Tuesday after Telsey Advisory Group lowered their price target on the stock from $4.00 to $3.75. The stock had previously closed at $3.51, but opened at $2.78. Telsey Advisory Group currently has a market perform rating on the stock. Leslie’s shares last traded at $2.80, with a volume of 812,857 shares trading hands.

Separately, Mizuho cut their price target on Leslie’s from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.93.

Institutional Trading of Leslie’s

Several hedge funds have recently added to or reduced their stakes in LESL. Ariel Investments LLC raised its stake in Leslie’s by 46.5% during the 2nd quarter. Ariel Investments LLC now owns 36,601,368 shares of the company’s stock valued at $153,360,000 after acquiring an additional 11,618,490 shares in the last quarter. Private Management Group Inc. increased its position in shares of Leslie’s by 121.3% during the 3rd quarter. Private Management Group Inc. now owns 5,569,278 shares of the company’s stock valued at $17,599,000 after purchasing an additional 3,052,539 shares during the period. Weiss Asset Management LP acquired a new position in shares of Leslie’s during the 3rd quarter valued at $6,470,000. Squarepoint Ops LLC increased its position in shares of Leslie’s by 1,300.5% during the 2nd quarter. Squarepoint Ops LLC now owns 1,187,916 shares of the company’s stock valued at $4,977,000 after purchasing an additional 1,103,096 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Leslie’s by 477.4% during the 2nd quarter. Marshall Wace LLP now owns 1,110,404 shares of the company’s stock valued at $4,653,000 after purchasing an additional 918,084 shares during the period.

Leslie’s Trading Down 20.2 %

The company has a market capitalization of $517.75 million, a price-to-earnings ratio of 140.00, a PEG ratio of 2.16 and a beta of 1.19. The firm has a 50-day moving average price of $2.86 and a 200-day moving average price of $3.50.

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.