Leslie’s (NASDAQ:LESL) Shares Down 5.5%

Leslie’s, Inc. (NASDAQ:LESL)’s share price dropped 5.5% on Wednesday . The company traded as low as $4.32 and last traded at $4.32. Approximately 505,463 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,937,501 shares. The stock had previously closed at $4.57.

Analyst Ratings Changes

LESL has been the topic of a number of analyst reports. Loop Capital raised their price target on Leslie’s from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Tuesday, March 5th. Telsey Advisory Group reiterated a “market perform” rating and set a $6.00 target price on shares of Leslie’s in a research report on Friday, February 2nd. Stifel Nicolaus lifted their target price on Leslie’s from $5.40 to $6.30 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Mizuho initiated coverage on Leslie’s in a research report on Tuesday, March 19th. They set a “neutral” rating and a $7.00 target price on the stock. Finally, William Blair reiterated a “market perform” rating on shares of Leslie’s in a research report on Friday, February 2nd. Ten analysts have rated the stock with a hold rating, According to data from MarketBeat, Leslie’s presently has a consensus rating of “Hold” and an average target price of $6.37.

Leslie’s Stock Performance

The stock has a market cap of $736.19 million, a price-to-earnings ratio of 39.90, a PEG ratio of 0.66 and a beta of 0.90. The company has a 50-day moving average of $6.29 and a 200-day moving average of $6.17.

Leslie’s (NASDAQ:LESL) last issued its quarterly earnings results on Thursday, February 1st. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.01. The firm had revenue of $173.96 million for the quarter, compared to analysts’ expectations of $169.17 million. Leslie’s had a negative return on equity of 15.00% and a net margin of 1.25%. As a group, equities research analysts forecast that Leslie’s, Inc. will post 0.23 EPS for the current year.

Hedge Funds Weigh In On Leslie’s

Several institutional investors have recently added to or reduced their stakes in the stock. Ariel Investments LLC increased its position in Leslie’s by 50.6% in the 3rd quarter. Ariel Investments LLC now owns 24,987,417 shares of the company’s stock valued at $141,429,000 after acquiring an additional 8,398,488 shares during the period. Vanguard Group Inc. boosted its holdings in Leslie’s by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 19,116,849 shares of the company’s stock valued at $132,097,000 after purchasing an additional 492,416 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Leslie’s by 55.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 17,115,836 shares of the company’s stock valued at $96,876,000 after purchasing an additional 6,078,768 shares in the last quarter. Clarkston Capital Partners LLC boosted its holdings in Leslie’s by 66.7% in the 3rd quarter. Clarkston Capital Partners LLC now owns 15,862,297 shares of the company’s stock valued at $89,781,000 after purchasing an additional 6,346,377 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in Leslie’s by 26.6% in the 4th quarter. DAVENPORT & Co LLC now owns 4,018,954 shares of the company’s stock valued at $27,771,000 after purchasing an additional 845,615 shares in the last quarter.

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.