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

Leslie’s, Inc. (NASDAQ:LESL) gapped down prior to trading 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 traded.

Separately, Mizuho lowered 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 research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.93.

Institutional Investors Weigh In On Leslie’s

Large investors have recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in shares of Leslie’s by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 35,967 shares of the company’s stock worth $234,000 after purchasing an additional 2,473 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Leslie’s by 24.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 63,237 shares of the company’s stock valued at $411,000 after buying an additional 12,519 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Leslie’s by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 86,970 shares of the company’s stock worth $566,000 after buying an additional 6,101 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Leslie’s during the 1st quarter worth about $787,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Leslie’s by 2.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,320,338 shares of the company’s stock valued at $47,581,000 after acquiring an additional 156,938 shares during the last quarter.

Leslie’s Stock Performance

The stock has a 50 day moving average of $2.86 and a two-hundred day moving average of $3.50. The firm has a market capitalization of $517.75 million, a P/E ratio of 140.00, a P/E/G ratio of 2.16 and a beta of 1.19.

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.