Telsey Advisory Group Reaffirms Market Perform Rating for Leslie's (NASDAQ:LESL)

Key Points

• Telsey Advisory Group has reaffirmed a "market perform" rating for Leslie's (NASDAQ:LESL) with a price target of $0.35, indicating a potential upside of 25.90% from the current price.
• Other analysts have issued mixed opinions, with Mizuho lowering their target price from $3.00 to $1.00 and assigning a "neutral" rating, while nine analysts hold a "Reduce" rating with an average price target of $1.60.
• Leslie's shares are set for a 1-for-20 reverse split on September 26, which is expected to adjust shareholder equity significantly, following a recent trading range between a low of $0.27 and a high of $3.63 over the past year.

Leslie's (NASDAQ:LESL - Get Free Report)'s stock had its "market perform" rating reaffirmed by analysts at Telsey Advisory Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $0.35 price objective on the stock. Telsey Advisory Group's price target points to a potential upside of 24.64% from the company's previous close.

Several other brokerages have also recently issued reports on LESL. Mizuho dropped their price objective on shares of Leslie's from $3.00 to $1.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Wall Street Zen raised shares of Leslie's to a "sell" rating in a research note on Saturday, July 26th. Nine equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $1.60.

Leslie's Trading Down 0.8%

Shares of Leslie's stock traded down $0.00 during trading on Wednesday, reaching $0.28. The company's stock had a trading volume of 7,140,369 shares, compared to its average volume of 1,814,475. The company has a 50-day moving average price of $0.36 and a two-hundred day moving average price of $0.57. The firm has a market cap of $52.12 million, a PE ratio of -0.62 and a beta of 1.27. Leslie's has a fifty-two week low of $0.27 and a fifty-two week high of $3.63.

Leslie's's stock is scheduled to reverse split on Friday, September 26th. The 1-20 reverse split was announced on Monday, September 15th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, September 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LESL. Engineers Gate Manager LP lifted its holdings in Leslie's by 309.7% in the 2nd quarter. Engineers Gate Manager LP now owns 61,474 shares of the company's stock valued at $26,000 after purchasing an additional 46,468 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Leslie's by 106.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 37,279 shares of the company's stock worth $27,000 after acquiring an additional 19,257 shares during the period. Pallas Capital Advisors LLC lifted its holdings in shares of Leslie's by 168.6% during the 2nd quarter. Pallas Capital Advisors LLC now owns 63,888 shares of the company's stock worth $27,000 after acquiring an additional 40,100 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Leslie's during the 2nd quarter worth about $28,000. Finally, Performa Ltd US LLC lifted its holdings in shares of Leslie's by 785.7% during the 1st quarter. Performa Ltd US LLC now owns 46,500 shares of the company's stock worth $34,000 after acquiring an additional 41,250 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.