Leslie’s (NASDAQ:LESL) Trading Up 5.5% – What’s Next?

Leslie’s, Inc. (NASDAQ:LESL)’s share price was up 5.5% during trading on Tuesday . The stock traded as high as $2.90 and last traded at $2.89. Approximately 2,665,509 shares traded hands during trading, a decline of 38% from the average daily volume of 4,277,499 shares. The stock had previously closed at $2.74.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LESL shares. Mizuho lowered their target price on shares of Leslie’s from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Piper Sandler reduced 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 note on Thursday, July 18th. Bank of America reduced 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 note on Thursday, July 18th. Loop Capital cut their price target on shares of Leslie’s from $6.00 to $3.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $4.00 price objective on shares of Leslie’s in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.96.

Leslie’s Stock Performance

The company has a market capitalization of $530.21 million, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 8.30 and a beta of 1.17. The company has a 50-day moving average price of $2.94 and a 200-day moving average price of $4.04.

Leslie’s (NASDAQ:LESL) last issued its earnings results on Wednesday, August 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $569.64 million during 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%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, sell-side analysts anticipate that Leslie’s, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Leslie’s

Hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new stake in Leslie’s during the 2nd quarter worth approximately $26,000. Covestor Ltd raised its holdings in shares of Leslie’s by 32,510.0% during the first quarter. Covestor Ltd now owns 6,522 shares of the company’s stock worth $42,000 after acquiring an additional 6,502 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Leslie’s during the second quarter worth $55,000. Los Angeles Capital Management LLC acquired a new stake in shares of Leslie’s during the second quarter worth $57,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Leslie’s during the first quarter worth $100,000.

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.