Leslie’s (NASDAQ:LESL) Shares Down 6%

Leslie’s, Inc. (NASDAQ:LESL)’s stock price fell 6% on Monday . The company traded as low as $2.82 and last traded at $2.82. 447,466 shares traded hands during trading, a decline of 89% from the average session volume of 4,172,012 shares. The stock had previously closed at $3.00.

Analysts Set New Price Targets

A number of brokerages have weighed in on LESL. Jefferies Financial Group cut their target price on shares of Leslie’s from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Wednesday, July 10th. Bank of America cut their target price on shares of Leslie’s from $6.40 to $5.15 and set a “buy” rating for the company in a research report on Thursday, July 18th. Piper Sandler cut their target price on shares of Leslie’s from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Stifel Nicolaus lowered shares of Leslie’s from a “hold” rating to a “sell” rating and cut their target price for the stock from $5.25 to $2.50 in a research report on Thursday, July 18th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 target price on shares of Leslie’s in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.96.

Leslie’s Price Performance

The stock has a market capitalization of $524.67 million, a PE ratio of 35.50, a P/E/G ratio of 8.04 and a beta of 1.17. The business’s fifty day moving average price is $3.05 and its 200-day moving average price is $4.48.

Leslie’s (NASDAQ:LESL) last announced its earnings results on Wednesday, August 7th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $569.64 million for the quarter, compared to the consensus estimate of $569.99 million. Leslie’s had a net margin of 0.22% and a negative return on equity of 6.11%. Leslie’s’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share. On average, analysts expect that Leslie’s, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Leslie’s

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blueshift Asset Management LLC lifted its holdings in shares of Leslie’s by 9.0% in the 4th quarter. Blueshift Asset Management LLC now owns 16,787 shares of the company’s stock worth $116,000 after acquiring an additional 1,385 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Leslie’s by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 35,967 shares of the company’s stock worth $234,000 after acquiring an additional 2,473 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Leslie’s by 1.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 160,928 shares of the company’s stock worth $1,046,000 after acquiring an additional 2,710 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Leslie’s by 4.1% in the 1st quarter. Diversified Trust Co now owns 82,092 shares of the company’s stock worth $534,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Leslie’s by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 63,449 shares of the company’s stock worth $438,000 after acquiring an additional 3,947 shares during the last quarter.

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.