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

Shares of Leslie’s, Inc. (NASDAQ:LESL) have been given an average recommendation of “Reduce” by the seven brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $2.85.

Several brokerages recently commented on LESL. Wolfe Research reiterated 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. Mizuho lowered 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. Weiss Ratings upgraded Leslie’s from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. Finally, Wall Street Zen cut Leslie’s from a “hold” rating to a “sell” rating in a research report on Saturday.

Institutional Investors Weigh In On Leslie’s

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in shares of Leslie’s by 16.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 102,428 shares of the company’s stock worth $169,000 after acquiring an additional 14,840 shares during the last quarter. Quadrature Capital Ltd bought a new position in Leslie’s during the fourth quarter worth $34,000. Barclays PLC acquired a new position in Leslie’s during the 4th quarter valued at $35,000. Performa Ltd US LLC boosted its holdings in Leslie’s by 27.5% in the 1st 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 during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Leslie’s by 38.5% in the 2nd 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 period.

Leslie’s Price Performance

Leslie’s stock opened at $0.58 on Tuesday. Leslie’s has a one year low of $0.55 and a one year high of $12.53. The company’s fifty day moving average price is $4.19 and its two-hundred day moving average price is $2.86. The company has a market capitalization of $5.44 million, a price-to-earnings ratio of -0.02 and a beta of 1.75.

Leslie’s (NASDAQ:LESL) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $3.96 EPS for the quarter, missing analysts’ consensus estimates of $4.86 by ($0.90). The firm had revenue of $458.49 million during the quarter, compared to analyst estimates of $503.22 million. As a group, sell-side analysts anticipate that Leslie’s will post -2.77 earnings per share for the current year.

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.