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

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

LESL has been the topic of a number of research analyst reports. Mizuho lowered their price objective on shares of Leslie’s from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Wolfe Research reissued an “outperform” rating and set a $3.00 target price (up from $2.00) on shares of Leslie’s in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of Leslie’s from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of Leslie’s from a “hold” rating to a “sell” rating in a research note on Saturday.

Leslie’s Stock Performance

Shares of NASDAQ:LESL opened at $0.58 on Tuesday. The company has a market cap of $5.44 million, a PE ratio of -0.02 and a beta of 1.75. Leslie’s has a 52 week low of $0.55 and a 52 week high of $12.53. The firm has a 50 day simple moving average of $4.19 and a 200 day simple moving average of $2.86.

Leslie’s (NASDAQ:LESL) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $3.96 earnings per share for the quarter, missing the consensus estimate of $4.86 by ($0.90). The business had revenue of $458.49 million for the quarter, compared to analysts’ expectations of $503.22 million. On average, equities analysts predict that Leslie’s will post -2.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC raised its stake in shares of Leslie’s by 61.3% during the 2nd quarter. Jane Street Group LLC now owns 3,570,476 shares of the company’s stock worth $1,499,000 after purchasing an additional 1,356,700 shares in the last quarter. AQR Capital Management LLC increased its holdings in Leslie’s by 923.6% in the first quarter. AQR Capital Management LLC now owns 1,254,176 shares of the company’s stock worth $922,000 after buying an additional 1,131,647 shares during the last quarter. Man Group plc increased its holdings in Leslie’s by 87.1% in the second quarter. Man Group plc now owns 1,016,078 shares of the company’s stock worth $427,000 after buying an additional 473,148 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Leslie’s during the second quarter valued at approximately $229,000. Finally, Marshall Wace LLP raised its position in Leslie’s by 732.6% during the second quarter. Marshall Wace LLP now owns 421,280 shares of the company’s stock valued at $177,000 after acquiring an additional 370,680 shares in 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.