Leslie’s, Inc. (NASDAQ:LESL) Sees Significant Decrease in Short Interest

Leslie’s, Inc. (NASDAQ:LESL) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 1,075,973 shares, a decline of 38.7% from the May 14th total of 1,754,995 shares. Based on an average daily volume of 498,668 shares, the days-to-cover ratio is currently 2.2 days. Approximately 11.6% of the shares of the company are sold short.

Leslie’s Stock Up 2.8%

NASDAQ LESL traded up $0.20 during trading on Wednesday, hitting $7.25. The company’s stock had a trading volume of 43,653 shares, compared to its average volume of 641,702. The firm has a market cap of $67.86 million, a P/E ratio of -0.24 and a beta of 1.95. Leslie’s has a 52 week low of $0.87 and a 52 week high of $13.57. The firm has a 50 day moving average price of $3.13 and a 200 day moving average price of $2.12.

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 analysts’ consensus estimates of ($4.41) by ($0.95). The firm had revenue of $184.74 million during the quarter, compared to analyst estimates of $162.48 million. On average, equities analysts expect that Leslie’s will post -2.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LESL. Wolfe Research restated an “outperform” rating and issued a $3.00 target price (up from $2.00) on shares of Leslie’s in a report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Leslie’s in a research report on Wednesday, March 25th. Zacks Research raised Leslie’s from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Mizuho dropped their price target on Leslie’s from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Finally, Morgan Stanley set a $1.00 price target on Leslie’s and gave the stock an “underweight” rating in a research report on Wednesday, February 18th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $2.85.

Institutional Trading of Leslie’s

A number of large investors have recently bought and sold shares of LESL. Engineers Gate Manager LP grew its position in Leslie’s by 309.7% in the second quarter. Engineers Gate Manager LP now owns 61,474 shares of the company’s stock valued at $26,000 after acquiring an additional 46,468 shares during the period. SG Americas Securities LLC acquired a new position in shares of Leslie’s during the fourth quarter valued at $29,000. Quadrature Capital Ltd acquired a new position in shares of Leslie’s during the fourth quarter valued at $34,000. Barclays PLC acquired a new position in shares of Leslie’s during the fourth quarter valued at $35,000. Finally, Scopia Capital Management LP acquired a new position in shares of Leslie’s during the second quarter valued at $41,000.

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.