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

Shares of Leslie’s, Inc. (NASDAQ:LESL) have received a consensus rating of “Reduce” from the seven analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $2.85.

A number of analysts recently commented on the company. Mizuho dropped their price target on Leslie’s from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday, May 8th. Wolfe Research restated an “outperform” rating and issued a $3.00 price objective (up from $2.00) on shares of Leslie’s in a report on Thursday, May 14th. Wall Street Zen raised shares of Leslie’s from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Leslie’s in a research note on Thursday, June 18th. Finally, Zacks Research upgraded shares of Leslie’s from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th.

Leslie’s Stock Performance

Leslie’s stock opened at $8.66 on Monday. The firm has a market cap of $81.06 million, a P/E ratio of -0.29 and a beta of 1.65. Leslie’s has a 1-year low of $0.87 and a 1-year high of $13.57. The firm has a 50-day moving average of $5.13 and a 200-day moving average of $2.71.

Leslie’s (NASDAQ:LESL) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($5.36) EPS for the quarter, missing analysts’ consensus estimates of ($4.41) by ($0.95). The business had revenue of $184.74 million during the quarter, compared to analyst estimates of $162.48 million. Research analysts forecast that Leslie’s will post -2.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. bought a new position in shares of Leslie’s in the 1st quarter worth approximately $61,000. Performa Ltd US LLC boosted its position in shares of Leslie’s by 27.5% during the first quarter. Performa Ltd US LLC now owns 148,000 shares of the company’s stock valued at $166,000 after purchasing an additional 31,900 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Leslie’s during the fourth quarter valued at approximately $34,000. Barclays PLC purchased a new stake in Leslie’s in the fourth quarter worth $35,000. Finally, Clearfield Capital Management LP raised its holdings in Leslie’s by 520.5% in the fourth quarter. Clearfield Capital Management LP now owns 191,575 shares of the company’s stock worth $316,000 after purchasing an additional 160,703 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.