Leslie’s (NASDAQ:LESL) Shares Up 6.4% – Time to Buy?

Leslie’s, Inc. (NASDAQ:LESL)’s stock price shot up 6.4% during mid-day trading on Monday . The company traded as high as $3.01 and last traded at $3.01. 437,756 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 4,239,681 shares. The stock had previously closed at $2.83.

Analysts Set New Price Targets

A number of brokerages have issued reports on LESL. Stifel Nicolaus downgraded Leslie’s from a “hold” rating to a “sell” rating and reduced their price objective for the company from $5.25 to $2.50 in a research note on Thursday, July 18th. Piper Sandler reduced their price objective on Leslie’s from $6.00 to $3.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. Mizuho reduced their price objective on Leslie’s from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Jefferies Financial Group reduced their price objective on Leslie’s from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Wednesday, July 10th. Finally, Bank of America cut their price target 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.96.

Leslie’s Stock Performance

The stock has a 50-day moving average of $2.84 and a two-hundred day moving average of $3.66. The company has a market cap of $545.49 million, a P/E ratio of 150.50, a P/E/G ratio of 1.87 and a beta of 1.19.

Leslie’s (NASDAQ:LESL) last released its earnings results on Wednesday, August 7th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $569.64 million during the quarter, compared to the consensus estimate of $569.99 million. Leslie’s had a negative return on equity of 6.11% and a net margin of 0.22%. Leslie’s’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, sell-side analysts forecast that Leslie’s, Inc. will post 0.04 EPS for the current fiscal year.

Institutional Trading of Leslie’s

A number of hedge funds have recently bought and sold shares of the company. Private Management Group Inc. increased its stake in Leslie’s by 121.3% in the 3rd quarter. Private Management Group Inc. now owns 5,569,278 shares of the company’s stock worth $17,599,000 after purchasing an additional 3,052,539 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Leslie’s in the 3rd quarter worth approximately $32,000. Jade Capital Advisors LLC increased its stake in Leslie’s by 5.8% in the 3rd quarter. Jade Capital Advisors LLC now owns 362,600 shares of the company’s stock worth $1,146,000 after purchasing an additional 20,000 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Leslie’s by 13.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,877,390 shares of the company’s stock worth $9,093,000 after purchasing an additional 345,064 shares during the period. Finally, Blue Trust Inc. increased its stake in Leslie’s by 1,089.6% in the 3rd quarter. Blue Trust Inc. now owns 11,075 shares of the company’s stock worth $35,000 after purchasing an additional 10,144 shares during the period.

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.