Leslie’s (NASDAQ:LESL) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Leslie’s (NASDAQ:LESL) from a hold rating to a strong sell rating in a research report report published on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on LESL. Wall Street Zen cut shares of Leslie’s from a “hold” rating to a “sell” rating in a report on Sunday, December 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of Leslie’s in a report on Friday, December 26th. Jefferies Financial Group set a $3.75 price target on Leslie’s and gave the company a “hold” rating in a research note on Wednesday, December 3rd. Morgan Stanley set a $1.50 target price on Leslie’s and gave the company an “underweight” rating in a report on Thursday, January 15th. Finally, Mizuho set a $5.00 price objective on Leslie’s in a research report on Thursday, October 16th. Five analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $10.21.

Leslie’s Stock Down 4.7%

Shares of LESL opened at $1.23 on Monday. The stock has a market cap of $11.46 million, a price-to-earnings ratio of -0.05 and a beta of 1.30. Leslie’s has a 12 month low of $1.19 and a 12 month high of $34.90. The company has a 50-day moving average price of $1.80 and a two-hundred day moving average price of $4.10.

Institutional Investors Weigh In On Leslie’s

Several hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP lifted its position in Leslie’s by 309.7% in the second quarter. Engineers Gate Manager LP now owns 61,474 shares of the company’s stock valued at $26,000 after purchasing an additional 46,468 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Leslie’s during the second quarter valued at $28,000. SG Americas Securities LLC bought a new stake in Leslie’s during the fourth quarter worth about $29,000. Catalyst Funds Management Pty Ltd bought a new stake in shares of Leslie’s in the 2nd quarter worth approximately $36,000. Finally, Savant Capital LLC bought a new stake in Leslie’s in the second quarter worth $41,000.

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.