Leslie’s (NASDAQ:LESL) Rating Increased to Hold at Wall Street Zen

Leslie’s (NASDAQ:LESL) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also recently issued reports on LESL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Leslie’s in a report on Wednesday, October 8th. Mizuho set a $5.00 price target on Leslie’s in a report on Thursday, October 16th. Jefferies Financial Group set a $3.75 price objective on Leslie’s and gave the company a “hold” rating in a research note on Wednesday, December 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $3.00 price objective on shares of Leslie’s in a report on Friday, November 28th. Finally, Morgan Stanley set a $3.50 target price on Leslie’s in a research report on Wednesday, December 10th. Nine investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $23.81.

Leslie’s Stock Down 10.9%

Shares of LESL opened at $1.80 on Friday. Leslie’s has a 52-week low of $1.73 and a 52-week high of $48.60. The company has a 50-day simple moving average of $3.19 and a 200-day simple moving average of $6.40. The company has a market capitalization of $16.70 million, a PE ratio of -0.07 and a beta of 1.32.

Institutional Trading of Leslie’s

A number of large investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Leslie’s during the first quarter worth about $1,543,000. Nuveen LLC purchased a new position in shares of Leslie’s during the first quarter valued at approximately $320,000. Ariel Investments LLC lifted its stake in shares of Leslie’s by 15.1% during the first quarter. Ariel Investments LLC now owns 58,177,415 shares of the company’s stock valued at $42,789,000 after buying an additional 7,649,626 shares during the period. Contrarian Capital Management L.L.C. acquired a new stake in Leslie’s during the first quarter worth approximately $652,000. Finally, Graham Capital Management L.P. grew its stake in Leslie’s by 701.5% in the 1st quarter. Graham Capital Management L.P. now owns 1,373,990 shares of the company’s stock worth $1,011,000 after acquiring an additional 1,202,568 shares during the period.

Leslie’s Company Profile

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.