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

Leslie’s, Inc. (NASDAQ:LESL) has earned an average recommendation of “Reduce” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $2.85.

LESL has been the topic of several analyst reports. Zacks Research upgraded Leslie’s from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Morgan Stanley set a $1.00 price target on Leslie’s and gave the company an “underweight” rating in a report on Wednesday, February 18th. Wall Street Zen upgraded Leslie’s to a “sell” rating in a research note on Saturday, June 6th. Wolfe Research restated an “outperform” rating and set a $3.00 price objective (up from $2.00) on shares of Leslie’s in a research note on Thursday, May 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Leslie’s in a research note on Wednesday, March 25th.

Institutional Investors Weigh In On Leslie’s

Hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP grew its holdings in Leslie’s by 309.7% during the second quarter. Engineers Gate Manager LP now owns 61,474 shares of the company’s stock valued at $26,000 after purchasing an additional 46,468 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Leslie’s during the 4th quarter worth approximately $29,000. Quadrature Capital Ltd acquired a new stake in shares of Leslie’s during the 4th quarter worth approximately $34,000. Barclays PLC acquired a new stake in Leslie’s in the 4th quarter valued at $35,000. Finally, Scopia Capital Management LP acquired a new stake in Leslie’s in the 2nd quarter valued at $41,000.

Leslie’s Trading Down 2.6%

NASDAQ:LESL opened at $7.97 on Thursday. The firm has a market cap of $74.60 million, a P/E ratio of -0.27 and a beta of 1.95. The stock’s 50 day simple moving average is $2.63 and its 200-day simple moving average is $1.99. Leslie’s has a 12-month low of $0.87 and a 12-month high of $13.60.

Leslie’s (NASDAQ:LESL) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($5.36) earnings per share (EPS) 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 analysts’ expectations of $162.48 million. Research analysts forecast that Leslie’s will post -2.73 EPS for the current fiscal year.

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.