Leslie’s (NASDAQ:LESL) Downgraded by Zacks Research to Strong Sell

Leslie’s (NASDAQ:LESL) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Leslie’s in a research report on Friday, December 26th. Wall Street Zen downgraded shares of Leslie’s from a “hold” rating to a “sell” rating in a report on Sunday, December 28th. Telsey Advisory Group reiterated a “market perform” rating and issued a $3.00 price target on shares of Leslie’s in a research report on Friday, November 28th. Morgan Stanley set a $1.50 price objective on Leslie’s and gave the stock an “underweight” rating in a research report on Thursday, January 15th. Finally, Mizuho set a $5.00 target price on Leslie’s in a report on Thursday, October 16th. Five analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $10.21.

Leslie’s Stock Performance

LESL opened at $1.29 on Monday. The company has a market cap of $12.02 million, a price-to-earnings ratio of -0.05 and a beta of 1.30. Leslie’s has a one year low of $1.19 and a one year high of $35.20. The business’s fifty day moving average is $1.83 and its two-hundred day moving average is $4.17.

Institutional Trading of Leslie’s

Several hedge funds and other institutional investors have recently bought and sold shares of LESL. Goldman Sachs Group Inc. lifted its stake in shares of Leslie’s by 16.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 102,428 shares of the company’s stock worth $169,000 after purchasing an additional 14,840 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Leslie’s in the fourth quarter valued at $29,000. Clearfield Capital Management LP acquired a new position in Leslie’s in the third quarter valued at $170,000. Canada Pension Plan Investment Board increased its stake in Leslie’s by 38.5% in the second quarter. Canada Pension Plan Investment Board now owns 117,000 shares of the company’s stock valued at $49,000 after purchasing an additional 32,500 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its position in Leslie’s by 309.7% during the second quarter. Engineers Gate Manager LP now owns 61,474 shares of the company’s stock worth $26,000 after buying an additional 46,468 shares during the period.

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.