Leslie’s, Inc. (NASDAQ:LESL) Given Consensus Recommendation of “Reduce” by Brokerages

Leslie’s, Inc. (NASDAQ:LESL) has received an average recommendation of “Reduce” from the eight brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $6.55.

A number of brokerages recently issued reports on LESL. Morgan Stanley set a $1.00 target price on shares of Leslie’s and gave the stock an “underweight” rating in a research report on Wednesday, February 18th. Jefferies Financial Group set a $3.75 price target on shares of Leslie’s and gave the company a “hold” rating in a report on Wednesday, December 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Leslie’s in a research report on Wednesday. Telsey Advisory Group restated a “market perform” rating and set a $3.00 price objective on shares of Leslie’s in a report on Friday, November 28th. Finally, Wall Street Zen lowered shares of Leslie’s from a “hold” rating to a “sell” rating in a research report on Sunday, December 28th.

Hedge Funds Weigh In On Leslie’s

Several large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP lifted its position in shares of Leslie’s by 309.7% in the 2nd quarter. Engineers Gate Manager LP now owns 61,474 shares of the company’s stock worth $26,000 after acquiring an additional 46,468 shares during the period. SG Americas Securities LLC bought a new stake in shares of Leslie’s during the fourth quarter valued at approximately $29,000. Quadrature Capital Ltd bought a new stake in shares of Leslie’s during the fourth quarter valued at approximately $34,000. Barclays PLC acquired a new position in shares of Leslie’s in the fourth quarter valued at $35,000. Finally, Scopia Capital Management LP acquired a new position in shares of Leslie’s in the second quarter valued at $41,000.

Leslie’s Stock Down 4.7%

Shares of NASDAQ:LESL opened at $1.02 on Friday. The company has a market cap of $9.51 million, a price-to-earnings ratio of -0.03 and a beta of 1.33. The business has a 50 day moving average price of $1.20 and a 200 day moving average price of $2.73. Leslie’s has a twelve month low of $0.87 and a twelve month high of $18.56.

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

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.