Leslie’s (NASDAQ:LESL) Price Target Lowered to $3.50 at Mizuho

Leslie’s (NASDAQ:LESL) had its price objective decreased by analysts at Mizuho from $4.00 to $3.50 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price objective would suggest a potential upside of 144.76% from the stock’s current price.

A number of other brokerages have also commented on LESL. Morgan Stanley set a $1.00 price target on Leslie’s and gave the stock an “underweight” rating in a report on Wednesday, February 18th. Zacks Research raised Leslie’s from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Leslie’s in a research report on Wednesday, March 25th. Five investment analysts have rated the stock with 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 price target of $6.25.

Leslie’s Stock Down 5.9%

LESL stock opened at $1.43 on Friday. Leslie’s has a twelve month low of $0.87 and a twelve month high of $18.56. The stock’s 50 day moving average is $1.33 and its 200-day moving average is $1.94. The firm has a market capitalization of $13.33 million, a PE ratio of -0.05 and a beta of 1.53.

Leslie’s (NASDAQ:LESL) last posted its earnings results on Tuesday, February 17th. The company reported ($5.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.20) by ($1.04). The firm had revenue of $147.13 million during the quarter, compared to the consensus estimate of $161.19 million. On average, equities research analysts anticipate that Leslie’s will post -2.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Leslie’s

Several hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC grew its position in shares of Leslie’s by 61.3% in the second 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 in the last quarter. AQR Capital Management LLC grew its position in Leslie’s by 923.6% during the first quarter. AQR Capital Management LLC now owns 1,254,176 shares of the company’s stock worth $922,000 after buying an additional 1,131,647 shares in the last quarter. Man Group plc grew its position in Leslie’s by 87.1% during the second quarter. Man Group plc now owns 1,016,078 shares of the company’s stock worth $427,000 after buying an additional 473,148 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Leslie’s during the second quarter worth about $229,000. Finally, Marshall Wace LLP grew its position in Leslie’s by 732.6% during the second quarter. Marshall Wace LLP now owns 421,280 shares of the company’s stock worth $177,000 after buying an additional 370,680 shares in 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.