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

Shares of Leslie’s, Inc. (NASDAQ:LESL) have earned a consensus recommendation of “Reduce” from the eight research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $6.55.

LESL has been the subject of several recent research reports. Jefferies Financial Group set a $3.75 price target on shares of Leslie’s and gave the stock a “hold” rating in a research report on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Leslie’s in a research note on Wednesday. Morgan Stanley set a $1.00 target price on Leslie’s and gave the stock an “underweight” rating in a report on Wednesday, February 18th. Zacks Research upgraded Leslie’s from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $3.00 price target on shares of Leslie’s in a research note on Friday, November 28th.

Leslie’s Stock Performance

Shares of LESL stock opened at $1.02 on Friday. Leslie’s has a 52-week low of $0.87 and a 52-week high of $18.56. The stock has a market cap of $9.51 million, a price-to-earnings ratio of -0.03 and a beta of 1.33. The firm has a fifty day moving average of $1.20 and a 200-day moving average of $2.73.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in shares of Leslie’s by 923.6% in the 1st quarter. AQR Capital Management LLC now owns 1,254,176 shares of the company’s stock worth $922,000 after purchasing an additional 1,131,647 shares during the last quarter. Jane Street Group LLC lifted its holdings in Leslie’s by 123.7% during the 1st quarter. Jane Street Group LLC now owns 2,213,776 shares of the company’s stock valued at $1,628,000 after purchasing an additional 1,224,115 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Leslie’s during the 2nd quarter valued at about $229,000. Marshall Wace LLP boosted its position in Leslie’s by 732.6% in the second quarter. Marshall Wace LLP now owns 421,280 shares of the company’s stock valued at $177,000 after buying an additional 370,680 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Leslie’s by 269.7% in the second quarter. Cerity Partners LLC now owns 276,532 shares of the company’s stock valued at $116,000 after buying an additional 201,731 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.