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

Shares of Leslie’s, Inc. (NASDAQ:LESL) have been given a consensus rating of “Reduce” by the seven research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $2.85.

LESL has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Leslie’s in a research note on Thursday, June 18th. Wolfe Research reiterated an “outperform” rating and issued a $3.00 price target (up from $2.00) on shares of Leslie’s in a research note on Thursday, May 14th. Wall Street Zen raised Leslie’s from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Finally, Mizuho reduced their price objective 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.

Leslie’s Trading Down 2.4%

Shares of NASDAQ LESL opened at $0.87 on Friday. The firm has a market cap of $8.12 million, a P/E ratio of -0.03 and a beta of 1.65. The business’s 50 day moving average is $5.64 and its 200-day moving average is $2.94. Leslie’s has a 1-year low of $0.80 and a 1-year high of $12.53.

Leslie’s (NASDAQ:LESL) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $162.48 million. Analysts forecast that Leslie’s will post -2.77 EPS for the current year.

Institutional Trading of Leslie’s

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC raised its holdings in Leslie’s by 61.3% in the 2nd quarter. Jane Street Group LLC now owns 3,570,476 shares of the company’s stock valued at $1,499,000 after buying an additional 1,356,700 shares during the last quarter. AQR Capital Management LLC increased its position in Leslie’s by 923.6% in the 1st quarter. AQR Capital Management LLC now owns 1,254,176 shares of the company’s stock valued at $922,000 after acquiring an additional 1,131,647 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Leslie’s during the second quarter worth $229,000. Man Group plc lifted its holdings in shares of Leslie’s by 87.1% during the second quarter. Man Group plc now owns 1,016,078 shares of the company’s stock worth $427,000 after purchasing an additional 473,148 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Leslie’s by 2,643.2% in the second quarter. Ameriprise Financial Inc. now owns 407,913 shares of the company’s stock worth $171,000 after purchasing an additional 393,043 shares during the last quarter.

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.