Leslie’s (NASDAQ:LESL) Shares Down 7.3% – What’s Next?

Leslie’s, Inc. (NASDAQ:LESL) shares were down 7.3% on Monday . The company traded as low as $1.15 and last traded at $1.15. Approximately 555,385 shares were traded during trading, a decline of 57% from the average session volume of 1,305,201 shares. The stock had previously closed at $1.24.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LESL shares. Wall Street Zen raised Leslie’s from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Mizuho cut their price objective on Leslie’s from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Friday, May 8th. Wolfe Research reiterated an “outperform” rating and set a $3.00 price objective (up from $2.00) on shares of Leslie’s in a research report on Thursday, May 14th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Leslie’s in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Leslie’s presently has a consensus rating of “Reduce” and a consensus target price of $2.85.

Leslie’s Stock Down 7.3%

The business’s fifty day moving average is $5.76 and its 200-day moving average is $2.95. The company has a market cap of $10.76 million, a PE ratio of -0.04 and a beta of 1.65.

Leslie’s (NASDAQ:LESL) last announced its earnings results on Wednesday, May 13th. The company reported ($5.36) EPS for the quarter, missing analysts’ consensus estimates of ($4.41) by ($0.95). The business had revenue of $184.74 million for the quarter, compared to analyst estimates of $162.48 million. Analysts forecast that Leslie’s, Inc. will post -2.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Leslie’s

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in shares of Leslie’s by 16.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 102,428 shares of the company’s stock worth $169,000 after acquiring an additional 14,840 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Leslie’s in the 4th quarter valued at approximately $29,000. Quadrature Capital Ltd acquired a new stake in Leslie’s in the 4th quarter worth approximately $34,000. Barclays PLC acquired a new stake in Leslie’s in the 4th quarter worth approximately $35,000. Finally, Performa Ltd US LLC boosted its stake in Leslie’s by 27.5% in the 1st quarter. Performa Ltd US LLC now owns 148,000 shares of the company’s stock worth $166,000 after purchasing an additional 31,900 shares in the last quarter.

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.