Leslie’s (NASDAQ:LESL) Trading Down 3.8% – Here’s Why

Shares of Leslie’s, Inc. (NASDAQ:LESL) traded down 3.8% during trading on Wednesday . The company traded as low as $2.78 and last traded at $2.80. 3,043,071 shares were traded during mid-day trading, a decline of 29% from the average session volume of 4,283,749 shares. The stock had previously closed at $2.91.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Leslie’s from $5.00 to $4.00 and set a “hold” rating on the stock in a research report on Wednesday, July 10th. Mizuho cut their price objective on Leslie’s from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Stifel Nicolaus cut Leslie’s from a “hold” rating to a “sell” rating and decreased their price objective for the company from $5.25 to $2.50 in a report on Thursday, July 18th. Bank of America cut their target price on Leslie’s from $6.40 to $5.15 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Piper Sandler lowered their price target 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.96.

Leslie’s Stock Down 4.8 %

The business’s 50-day simple moving average is $2.94 and its 200-day simple moving average is $4.01. The stock has a market cap of $511.74 million, a PE ratio of 34.50, a PEG ratio of 8.30 and a beta of 1.17.

Leslie’s (NASDAQ:LESL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $569.64 million for the quarter, compared to analysts’ expectations of $569.99 million. Leslie’s had a net margin of 0.22% and a negative return on equity of 6.11%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 earnings per share. As a group, equities research 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 bought and sold shares of the business. nVerses Capital LLC bought a new stake in Leslie’s during the second quarter worth about $26,000. Covestor Ltd raised its holdings in Leslie’s by 32,510.0% in the first quarter. Covestor Ltd now owns 6,522 shares of the company’s stock worth $42,000 after buying an additional 6,502 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in Leslie’s in the second quarter worth about $55,000. Los Angeles Capital Management LLC purchased a new position in Leslie’s in the second quarter worth about $57,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Leslie’s during the first quarter valued at approximately $100,000.

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.