Leslie’s (NASDAQ:LESL) Shares Down 7.3% – What’s Next?

Leslie’s, Inc. (NASDAQ:LESL) fell 7.3% during mid-day trading on Monday . The company traded as low as $1.15 and last traded at $1.15. 555,385 shares were traded during mid-day trading, a decline of 57% from the average session volume of 1,305,201 shares. The stock had previously closed at $1.24.

Analysts Set New Price Targets

LESL has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Leslie’s in a report on Thursday, June 18th. Wolfe Research restated an “outperform” rating and issued a $3.00 target price (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 research report on Sunday, June 14th. Finally, Mizuho lowered their price target on Leslie’s from $4.00 to $3.50 and set a “neutral” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $2.85.

Leslie’s Stock Performance

The company’s fifty day moving average is $5.76 and its two-hundred day moving average is $2.95. The company has a market cap of $10.76 million, a price-to-earnings ratio of -0.04 and a beta of 1.65.

Leslie’s (NASDAQ:LESL) last posted its quarterly 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 business had revenue of $184.74 million for the quarter, compared to the consensus estimate of $162.48 million. On average, sell-side analysts anticipate that Leslie’s, Inc. will post -2.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LESL. Goldman Sachs Group Inc. grew its position in 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 acquired a new position in shares of Leslie’s in the 4th quarter valued at about $29,000. Quadrature Capital Ltd acquired a new position in shares of Leslie’s in the 4th quarter valued at about $34,000. Barclays PLC purchased a new stake in shares of Leslie’s in the fourth quarter worth about $35,000. Finally, Performa Ltd US LLC boosted its stake in shares of Leslie’s by 27.5% in the first quarter. Performa Ltd US LLC now owns 148,000 shares of the company’s stock worth $166,000 after buying an additional 31,900 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.