Leslie's, Inc. (NASDAQ:LESL) Given Consensus Rating of "Reduce" by Brokerages

Key Points

• Leslie's, Inc. (NASDAQ:LESL) has received a consensus rating of "Reduce" from brokerages, with two analysts recommending a sell and nine recommending a hold.
• Recent target price adjustments have seen Mizuho cut their forecast from $60 to $20, while Morgan Stanley and Telsey Advisory Group have set their targets at $7.
• The company's shares have experienced a significant decline, trading down 11.7% to open at $4.92, with a market cap of $45.66 million.

Leslie's, Inc. (NASDAQ:LESL - Get Free Report) has been given a consensus rating of "Reduce" by the eleven brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and nine have given a hold recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $29.1250.

Several brokerages have recently issued reports on LESL. Mizuho reduced their target price on shares of Leslie's from $60.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Leslie's in a research note on Saturday, September 27th. Morgan Stanley set a $7.00 target price on shares of Leslie's in a research note on Tuesday. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $7.00 target price on shares of Leslie's in a research note on Wednesday, September 17th. Finally, Wall Street Zen raised shares of Leslie's to a "sell" rating in a research note on Friday.

Leslie's Trading Down 11.7%

Shares of NASDAQ LESL opened at $4.92 on Friday. The firm has a market capitalization of $45.66 million, a PE ratio of -0.55 and a beta of 1.24. Leslie's has a 1 year low of $4.85 and a 1 year high of $72.60. The firm's 50-day moving average is $6.50 and its 200-day moving average is $10.53.

Institutional Trading of Leslie's

A number of hedge funds have recently modified their holdings of LESL. Two Sigma Investments LP raised its position in shares of Leslie's by 297.7% in the 4th quarter. Two Sigma Investments LP now owns 474,875 shares of the company's stock valued at $1,059,000 after acquiring an additional 355,474 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Leslie's in the 4th quarter valued at approximately $39,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Leslie's by 13.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 461,502 shares of the company's stock valued at $1,029,000 after acquiring an additional 55,701 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Leslie's by 106.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,279 shares of the company's stock valued at $27,000 after acquiring an additional 19,257 shares during the period. Finally, CWM LLC raised its position in shares of Leslie's by 1,149.0% in the 1st quarter. CWM LLC now owns 46,914 shares of the company's stock valued at $35,000 after acquiring an additional 43,158 shares during the period.

Leslie's Company Profile

Leslie's, Inc operates as a direct-to-consumer pool and spa care brand in the United States. The company markets and sells pool and spa supplies and related products and services. It also offers various pool and spa maintenance items, such as chemicals, equipment and parts, cleaning and maintenance equipment, safety, recreational, and fitness related products.

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