Leslie’s (NASDAQ:LESL) Shares Gap Up – Still a Buy?

Shares of Leslie’s, Inc. (NASDAQ:LESL) gapped up before the market opened on Friday . The stock had previously closed at $2.76, but opened at $2.84. Leslie’s shares last traded at $2.80, with a volume of 234,323 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LESL. Mizuho reduced their target price on shares of Leslie’s from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Loop Capital reduced their price objective on shares of Leslie’s from $6.00 to $3.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Piper Sandler lowered 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. Telsey Advisory Group restated a “market perform” rating and issued a $4.00 price target on shares of Leslie’s in a research note on Tuesday, August 27th. Finally, Stifel Nicolaus cut Leslie’s from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $5.25 to $2.50 in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.96.

Leslie’s Price Performance

The firm’s 50 day simple moving average is $2.85 and its 200-day simple moving average is $3.58. The company has a market cap of $532.55 million, a price-to-earnings ratio of 141.00, a P/E/G ratio of 2.00 and a beta of 1.19.

Institutional Trading of Leslie’s

A number of large investors have recently made changes to their positions in LESL. nVerses Capital LLC purchased a new stake in Leslie’s in the second quarter valued at approximately $26,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Leslie’s in the 3rd quarter valued at $32,000. Blue Trust Inc. raised its position in Leslie’s by 1,089.6% in the 3rd quarter. Blue Trust Inc. now owns 11,075 shares of the company’s stock valued at $35,000 after purchasing an additional 10,144 shares during the last quarter. Covestor Ltd boosted its stake in Leslie’s by 32,510.0% during the 1st quarter. Covestor Ltd now owns 6,522 shares of the company’s stock worth $42,000 after purchasing an additional 6,502 shares during the period. Finally, IHT Wealth Management LLC boosted its stake in Leslie’s by 52.6% during the 3rd quarter. IHT Wealth Management LLC now owns 16,760 shares of the company’s stock worth $51,000 after purchasing an additional 5,776 shares during the period.

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.