Zacks Research Upgrades Leslie’s (NASDAQ:LESL) to “Hold”

Leslie’s (NASDAQ:LESL) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on LESL. Jefferies Financial Group set a $3.75 price objective on Leslie’s and gave the company a “hold” rating in a report on Wednesday, December 3rd. Wall Street Zen cut 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 set a $3.00 price target on shares of Leslie’s in a research note on Friday, November 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Leslie’s in a research report on Friday, December 26th. Finally, Morgan Stanley set a $1.00 price objective on shares of Leslie’s and gave the company an “underweight” rating in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Leslie’s has an average rating of “Reduce” and an average price target of $6.55.

Leslie’s Stock Down 3.8%

Shares of NASDAQ LESL opened at $1.01 on Tuesday. The stock has a market cap of $9.41 million, a PE ratio of -0.03 and a beta of 1.33. Leslie’s has a 52-week low of $0.87 and a 52-week high of $19.20. The business has a 50-day moving average price of $1.29 and a 200 day moving average price of $3.01.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of Leslie’s by 16.9% during the fourth 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 last quarter. SG Americas Securities LLC acquired a new stake in shares of Leslie’s during the fourth quarter worth $29,000. Quadrature Capital Ltd purchased a new position in Leslie’s in the 4th quarter valued at $34,000. Barclays PLC acquired a new position in Leslie’s in the 4th quarter valued at $35,000. Finally, Clearfield Capital Management LP acquired a new position in Leslie’s in the 3rd quarter valued at $170,000.

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.