Leslie’s (NASDAQ:LESL) Upgraded at Zacks Research

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

A number of other research analysts have also issued reports on LESL. Morgan Stanley set a $1.00 price objective on shares of Leslie’s and gave the company an “underweight” rating in a report on Wednesday, February 18th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $3.00 price target on shares of Leslie’s in a research note on Friday, November 28th. Jefferies Financial Group set a $3.75 price target on shares of Leslie’s and gave the stock a “hold” rating in a report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Leslie’s in a research note on Friday, December 26th. Finally, Wall Street Zen downgraded Leslie’s from a “hold” rating to a “sell” rating in a report on Sunday, December 28th. Six investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Leslie’s currently has an average rating of “Reduce” and a consensus price target of $6.55.

Leslie’s Stock Down 4.6%

Shares of LESL opened at $0.96 on Tuesday. Leslie’s has a 12-month low of $0.87 and a 12-month high of $19.20. The business has a 50-day simple moving average of $1.27 and a two-hundred day simple moving average of $2.97. The stock has a market cap of $8.98 million, a PE ratio of -0.03 and a beta of 1.33.

Leslie’s (NASDAQ:LESL) last posted its 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 analysts’ expectations of $161.19 million.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Ariel Investments LLC raised its position in shares of Leslie’s by 4.7% during the second quarter. Ariel Investments LLC now owns 60,903,406 shares of the company’s stock worth $25,573,000 after purchasing an additional 2,725,991 shares during the period. King Street Capital Management L.P. bought a new position in shares of Leslie’s in the 2nd quarter worth $630,000. Jane Street Group LLC grew its position in Leslie’s by 61.3% in the 2nd quarter. Jane Street Group LLC now owns 3,570,476 shares of the company’s stock valued at $1,499,000 after purchasing an additional 1,356,700 shares during the period. AQR Capital Management LLC increased its stake in Leslie’s by 923.6% during the 1st quarter. AQR Capital Management LLC now owns 1,254,176 shares of the company’s stock valued at $922,000 after purchasing an additional 1,131,647 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Leslie’s during the 2nd quarter valued at $229,000.

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.