Leslie’s (NASDAQ:LESL) Downgraded by Zacks Research to Strong Sell

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

A number of other brokerages have also commented on LESL. Mizuho set a $5.00 price objective on Leslie’s in a report on Thursday, October 16th. Morgan Stanley set a $1.50 price target on Leslie’s and gave the stock an “underweight” rating in a report on Thursday, January 15th. Telsey Advisory Group reissued a “market perform” rating and issued a $3.00 price target on shares of Leslie’s in a research report on Friday, November 28th. Jefferies Financial Group set a $3.75 price objective on shares of Leslie’s and gave the stock a “hold” rating in a report on Wednesday, December 3rd. Finally, Wall Street Zen downgraded shares of Leslie’s from a “hold” rating to a “sell” rating in a report on Sunday, December 28th. Five research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Leslie’s currently has a consensus rating of “Reduce” and a consensus price target of $10.21.

Leslie’s Stock Down 3.9%

LESL traded down $0.05 during trading on Monday, hitting $1.24. 11,390 shares of the company’s stock were exchanged, compared to its average volume of 159,685. Leslie’s has a fifty-two week low of $1.19 and a fifty-two week high of $34.90. The stock has a market cap of $11.56 million, a P/E ratio of -0.05 and a beta of 1.30. The business’s 50 day moving average is $1.83 and its two-hundred day moving average is $4.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP boosted its holdings in shares of Leslie’s by 309.7% in the second quarter. Engineers Gate Manager LP now owns 61,474 shares of the company’s stock worth $26,000 after acquiring an additional 46,468 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Leslie’s during the 2nd quarter worth about $28,000. SG Americas Securities LLC purchased a new stake in Leslie’s during the 4th quarter worth about $29,000. Catalyst Funds Management Pty Ltd bought a new position in Leslie’s in the 2nd quarter worth about $36,000. Finally, Savant Capital LLC purchased a new position in Leslie’s during the 2nd quarter valued at about $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.