Leslie’s (NASDAQ:LESL) Shares Gap Down to $24.90

Leslie’s, Inc. (NASDAQ:LESL) shares gapped down before the market opened on Monday . The stock had previously closed at $24.90, but opened at $24.36. Leslie’s shares last traded at $23.57, with a volume of 9,492 shares.

Several research firms recently commented on LESL. Zacks Investment Research cut Leslie’s from a “buy” rating to a “hold” rating in a research note on Thursday, August 12th. Jefferies Financial Group began coverage on Leslie’s in a research note on Thursday, August 5th. They set a “buy” rating and a $39.00 target price for the company. Bank of America raised Leslie’s from a “neutral” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Friday, August 6th. They noted that the move was a valuation call. Stifel Nicolaus began coverage on Leslie’s in a research note on Thursday, September 9th. They set a “buy” rating and a $28.00 target price for the company. Finally, Berenberg Bank raised Leslie’s from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Leslie’s currently has a consensus rating of “Buy” and a consensus price target of $32.00.

The stock has a market capitalization of $4.24 billion and a price-to-earnings ratio of 32.91. The business has a 50-day moving average of $24.31 and a 200-day moving average of $25.62.

Leslie’s (NASDAQ:LESL) last announced its earnings results on Wednesday, August 4th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. The firm had revenue of $596.50 million during the quarter, compared to analyst estimates of $571.81 million. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. Equities analysts predict that Leslie’s, Inc. will post 0.74 EPS for the current year.

In other Leslie’s news, CEO Michael R. Egeck sold 28,164 shares of the company’s stock in a transaction that occurred on Tuesday, June 29th. The stock was sold at an average price of $26.81, for a total transaction of $755,076.84. Following the completion of the sale, the chief executive officer now directly owns 1,503,139 shares of the company’s stock, valued at approximately $40,299,156.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Weddell sold 25,976 shares of the company’s stock in a transaction that occurred on Tuesday, June 29th. The shares were sold at an average price of $26.81, for a total value of $696,416.56. Following the sale, the insider now directly owns 1,386,377 shares of the company’s stock, valued at $37,168,767.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 857,357 shares of company stock valued at $22,985,741.

Hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. raised its stake in shares of Leslie’s by 148.8% during the 2nd quarter. Alliancebernstein L.P. now owns 97,107 shares of the company’s stock worth $2,669,000 after buying an additional 58,071 shares in the last quarter. Zweig DiMenna Associates LLC raised its stake in shares of Leslie’s by 16.2% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 339,329 shares of the company’s stock worth $9,328,000 after buying an additional 47,329 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Leslie’s by 164.5% during the 1st quarter. Bank of New York Mellon Corp now owns 243,463 shares of the company’s stock worth $5,962,000 after buying an additional 151,416 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Leslie’s during the 2nd quarter worth approximately $53,655,000. Finally, New York State Common Retirement Fund raised its stake in shares of Leslie’s by 88.9% during the 1st quarter. New York State Common Retirement Fund now owns 86,900 shares of the company’s stock worth $2,128,000 after buying an additional 40,900 shares in the last quarter. 90.13% of the stock is owned by institutional investors and hedge funds.

Leslie’s Company Profile (NASDAQ:LESL)

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, which primarily consist of maintenance items, such as chemicals, equipment and parts, and cleaning and maintenance equipment, as well as safety, recreational, and fitness-related products.

Recommended Story: Why is the conference call important?

Receive News & Ratings for Leslie's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leslie's and related companies with MarketBeat.com's FREE daily email newsletter.