Leslie’s, Inc. (NASDAQ:LESL) Receives Average Rating of “Reduce” from Analysts

Shares of Leslie’s, Inc. (NASDAQ:LESL) have received an average recommendation of “Reduce” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $2.85.

LESL has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Leslie’s in a research note on Thursday, June 18th. Wolfe Research reissued an “outperform” rating and issued a $3.00 price objective (up from $2.00) on shares of Leslie’s in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Leslie’s from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Zacks Research upgraded shares of Leslie’s from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Finally, Mizuho lowered their price target on shares of Leslie’s from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Friday, May 8th.

Leslie’s Trading Down 5.2%

Shares of LESL opened at $6.24 on Monday. The business’s 50 day moving average is $5.63 and its 200 day moving average is $2.88. Leslie’s has a 12-month low of $0.87 and a 12-month high of $13.57. The company has a market capitalization of $58.41 million, a PE ratio of -0.21 and a beta of 1.65.

Leslie’s (NASDAQ:LESL) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($5.36) earnings per share for the quarter, missing the consensus estimate of ($4.41) by ($0.95). The business had revenue of $184.74 million during the quarter, compared to analyst estimates of $162.48 million. Equities research analysts predict that Leslie’s will post -2.77 earnings per share for the current year.

Institutional Investors Weigh In On Leslie’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. bought a new stake in shares of Leslie’s in the 1st quarter valued at approximately $61,000. Performa Ltd US LLC increased its position in shares of Leslie’s by 27.5% during the 1st quarter. Performa Ltd US LLC now owns 148,000 shares of the company’s stock valued at $166,000 after purchasing an additional 31,900 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Leslie’s during the 4th quarter valued at $34,000. Barclays PLC purchased a new stake in Leslie’s during the 4th quarter valued at $35,000. Finally, Clearfield Capital Management LP lifted its position in Leslie’s by 520.5% in the fourth quarter. Clearfield Capital Management LP now owns 191,575 shares of the company’s stock worth $316,000 after buying an additional 160,703 shares during the last quarter.

Leslie’s Company Profile

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.