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

Wall Street Zen lowered shares of Leslie’s (NASDAQ:LESL) from a hold rating to a sell rating in a report released on Saturday morning.

LESL has been the subject of a number of other research reports. Weiss Ratings raised shares of Leslie’s from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. Wolfe Research reissued an “outperform” rating and issued a $3.00 target price (up from $2.00) on shares of Leslie’s in a research report on Thursday, May 14th. Finally, Mizuho lowered their target price on shares of Leslie’s from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Leslie’s currently has an average rating of “Reduce” and a consensus target price of $2.85.

Leslie’s Stock Down 3.4%

Shares of NASDAQ:LESL opened at $0.58 on Friday. The company has a market capitalization of $5.44 million, a P/E ratio of -0.02 and a beta of 1.75. Leslie’s has a 52-week low of $0.55 and a 52-week high of $12.53. The stock’s fifty day simple moving average is $4.19 and its 200-day simple moving average is $2.86.

Leslie’s (NASDAQ:LESL) last released its earnings results on Wednesday, August 12th. The company reported $3.96 EPS for the quarter, missing the consensus estimate of $4.86 by ($0.90). The business had revenue of $458.49 million for the quarter, compared to analysts’ expectations of $503.22 million. On average, sell-side analysts anticipate that Leslie’s will post -2.77 earnings per share for the current year.

Institutional Investors Weigh In On Leslie’s

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in shares of Leslie’s in the 4th quarter valued at about $34,000. Barclays PLC acquired a new stake in Leslie’s during the 4th quarter worth approximately $35,000. Sei Investments Co. acquired a new stake in Leslie’s during the 1st quarter worth approximately $61,000. Engineers Gate Manager LP raised its holdings 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 buying an additional 46,468 shares during the period. Finally, Scopia Capital Management LP purchased a new position in Leslie’s in the second quarter valued at approximately $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.