Leslie’s, Inc. (NASDAQ:LESL) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Leslie’s, Inc. (NASDAQ:LESL) have earned an average recommendation of “Reduce” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $6.55.

LESL has been the topic of a number of research analyst reports. Telsey Advisory Group restated a “market perform” rating and issued a $3.00 price target on shares of Leslie’s in a research note on Friday, November 28th. Jefferies Financial Group set a $3.75 price objective on shares of Leslie’s and gave the stock a “hold” rating in a research report on Wednesday, December 3rd. Morgan Stanley set a $1.00 price objective on shares of Leslie’s and gave the company an “underweight” rating in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Leslie’s in a research note on Friday, December 26th. Finally, Zacks Research downgraded shares of Leslie’s from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th.

Hedge Funds Weigh In On Leslie’s

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ariel Investments LLC raised its position in Leslie’s by 4.7% in the second quarter. Ariel Investments LLC now owns 60,903,406 shares of the company’s stock valued at $25,573,000 after purchasing an additional 2,725,991 shares during the last quarter. King Street Capital Management L.P. acquired a new position in shares of Leslie’s in the second quarter valued at approximately $630,000. Jane Street Group LLC increased its stake in shares of Leslie’s by 61.3% in the second quarter. Jane Street Group LLC now owns 3,570,476 shares of the company’s stock valued at $1,499,000 after buying an additional 1,356,700 shares during the period. AQR Capital Management LLC raised its holdings in Leslie’s by 923.6% in the 1st quarter. AQR Capital Management LLC now owns 1,254,176 shares of the company’s stock valued at $922,000 after buying an additional 1,131,647 shares during the last quarter. Finally, Truffle Hound Capital LLC bought a new position in Leslie’s in the 2nd quarter valued at approximately $289,000.

Leslie’s Stock Up 2.9%

Shares of LESL stock opened at $0.95 on Tuesday. The firm has a 50-day moving average price of $1.40 and a 200 day moving average price of $3.32. The company has a market capitalization of $8.85 million, a P/E ratio of -0.03 and a beta of 1.33. Leslie’s has a 12-month low of $0.87 and a 12-month high of $21.00.

Leslie’s (NASDAQ:LESL) last released its earnings results on Tuesday, February 17th. The company reported ($5.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.20) by ($1.04). The business had revenue of $147.13 million during the quarter, compared to analysts’ expectations of $161.19 million.

About Leslie’s

Leslie’s, Inc (NASDAQ: LESL) is the largest direct-to-consumer retailer of swimming pool supplies and related equipment in the United States. Through a network of more than 900 company-operated stores and a robust e-commerce platform, the company offers a comprehensive range of pool chemicals, cleaning tools, pumps, filters, heaters and pool accessories. In addition to product retailing, Leslie’s provides in-store and in-home water testing services, equipment installation, repair and ongoing maintenance programs designed to support both residential and commercial pool owners.

Founded in 1963 in North Miami Beach, Florida, Leslie’s has grown from a single neighborhood pool-supply shop into a national specialty retailer.