Leslie’s (NASDAQ:LESL) Trading Down 7.3% – What’s Next?

Leslie’s, Inc. (NASDAQ:LESL) shares were down 7.3% during trading on Monday . The company traded as low as $1.15 and last traded at $1.15. 555,385 shares were traded during mid-day trading, a decline of 57% from the average session volume of 1,305,201 shares. The stock had previously closed at $1.24.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LESL. Mizuho lowered their target price on Leslie’s from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday, May 8th. Wolfe Research reaffirmed an “outperform” rating and set a $3.00 price target (up from $2.00) on shares of Leslie’s in a research note on Thursday, May 14th. Wall Street Zen upgraded Leslie’s from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Leslie’s in a research report on Thursday, June 18th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Leslie’s presently has a consensus rating of “Reduce” and an average price target of $2.85.

Leslie’s Price Performance

The stock has a market capitalization of $8.33 million, a P/E ratio of -0.03 and a beta of 1.65. The business’s 50 day simple moving average is $5.73 and its 200-day simple moving average is $2.95.

Leslie’s (NASDAQ:LESL) last issued its earnings results on Wednesday, May 13th. The company reported ($5.36) EPS for the quarter, missing the consensus estimate of ($4.41) by ($0.95). The business had revenue of $184.74 million for the quarter, compared to the consensus estimate of $162.48 million. Research analysts anticipate that Leslie’s, Inc. will post -2.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Leslie’s

Several hedge funds have recently added to or reduced their stakes in the stock. Prescott Group Capital Management L.L.C. bought a new position in Leslie’s during the fourth quarter worth about $433,000. SG Americas Securities LLC bought a new position in Leslie’s during the 4th quarter worth approximately $29,000. Ameriprise Financial Inc. boosted its stake in Leslie’s by 2,643.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 407,913 shares of the company’s stock worth $171,000 after acquiring an additional 393,043 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Leslie’s by 16.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 102,428 shares of the company’s stock valued at $169,000 after purchasing an additional 14,840 shares during the period. Finally, Cerity Partners LLC grew its holdings in Leslie’s by 269.7% during the second quarter. Cerity Partners LLC now owns 276,532 shares of the company’s stock valued at $116,000 after purchasing an additional 201,731 shares during the period.

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.