Leslie’s (NASDAQ:LESL) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Leslie’s (NASDAQ:LESL) from a hold rating to a sell rating in a report issued on Sunday.

A number of other analysts have also issued reports on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $3.00 price target on shares of Leslie’s in a report on Friday, November 28th. Jefferies Financial Group set a $3.75 target price on 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 report on Friday. Zacks Research upgraded Leslie’s from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Finally, Morgan Stanley set a $3.50 price objective on shares of Leslie’s in a research note on Wednesday, December 10th. Nine research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $23.81.

Leslie’s Price Performance

Leslie’s stock opened at $1.71 on Friday. The stock has a market cap of $15.89 million, a price-to-earnings ratio of -0.07 and a beta of 1.32. The firm has a 50-day moving average of $2.86 and a two-hundred day moving average of $5.76. Leslie’s has a 1 year low of $1.60 and a 1 year high of $48.60.

Hedge Funds Weigh In On Leslie’s

Several hedge funds and other institutional investors have recently bought and sold shares of LESL. Clearfield Capital Management LP purchased a new stake in shares of Leslie’s in the 3rd quarter valued at $170,000. Canada Pension Plan Investment Board boosted its holdings in Leslie’s by 38.5% in the second quarter. Canada Pension Plan Investment Board now owns 117,000 shares of the company’s stock valued at $49,000 after purchasing an additional 32,500 shares during the last quarter. Pallas Capital Advisors LLC grew its position in Leslie’s by 168.6% during the 2nd quarter. Pallas Capital Advisors LLC now owns 63,888 shares of the company’s stock worth $27,000 after purchasing an additional 40,100 shares during the period. Engineers Gate Manager LP grew its position in Leslie’s by 309.7% during the 2nd quarter. Engineers Gate Manager LP now owns 61,474 shares of the company’s stock worth $26,000 after purchasing an additional 46,468 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Leslie’s by 136.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 88,094 shares of the company’s stock valued at $37,000 after buying an additional 50,815 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.