Leslie’s (NASDAQ:LESL) Shares Gap Up – Here’s Why

Leslie’s, Inc. (NASDAQ:LESL) shares gapped up prior to trading 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.

Analyst Upgrades and Downgrades

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

Leslie’s Stock Up 4.3 %

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

Institutional Investors Weigh In On Leslie’s

A number of institutional investors and hedge funds 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 stake in shares of Leslie’s in the third quarter valued at $32,000. Blue Trust Inc. raised its holdings in shares of 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 buying an additional 10,144 shares during the period. Covestor Ltd lifted 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 acquiring an additional 6,502 shares in the last quarter. Finally, IHT Wealth Management LLC lifted 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 acquiring an additional 5,776 shares in the last quarter.

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.