Leslie’s (NASDAQ:LESL) Downgraded to Sell Rating by Wall Street Zen

Leslie’s (NASDAQ:LESL) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

Several other equities analysts have also weighed in on the company. Telsey Advisory Group restated a “market perform” rating and issued a $3.00 price target on shares of Leslie’s in a research note on Friday, November 28th. Morgan Stanley set a $3.50 price objective on Leslie’s in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Leslie’s in a research note on Friday. Zacks Research raised shares of Leslie’s from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd. Finally, Jefferies Financial Group set a $3.75 price target on shares of Leslie’s and gave the stock a “hold” rating in a report on Wednesday, December 3rd. Nine equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Leslie’s has a consensus rating of “Reduce” and an average target price of $23.81.

Leslie’s Stock Performance

LESL opened at $1.67 on Friday. The company has a fifty day moving average of $2.94 and a two-hundred day moving average of $5.93. The stock has a market capitalization of $15.51 million, a price-to-earnings ratio of -0.07 and a beta of 1.32. Leslie’s has a fifty-two week low of $1.60 and a fifty-two week high of $48.60.

Institutional Investors Weigh In On Leslie’s

A number of hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP lifted its stake 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 buying an additional 46,468 shares in the last quarter. Pallas Capital Advisors LLC raised its holdings in Leslie’s by 168.6% in the 2nd quarter. Pallas Capital Advisors LLC now owns 63,888 shares of the company’s stock valued at $27,000 after acquiring an additional 40,100 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Leslie’s in the 2nd quarter worth approximately $28,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of Leslie’s during the 2nd quarter worth approximately $36,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings 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 worth $37,000 after purchasing an additional 50,815 shares during the last quarter.

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.