Wall Street Zen Upgrades Leslie's (NASDAQ:LESL) to Sell

Key Points

• Wall Street Zen has upgraded Leslie's (NASDAQ:LESL) to a "sell" rating, indicating a bearish outlook for the company's stock.
• Leslie's recently traded at $4.92, down from a twelve-month high of $72.60, and has a consensus target price of $29.13.
• Recent analyst reports include a price target of $7.00 from Morgan Stanley and a significant reduction to $20.00 by Mizuho.

Leslie's (NASDAQ:LESL - Get Free Report) was upgraded by Wall Street Zen to a "sell" rating in a note issued to investors on Friday.

Other analysts have also recently issued reports about the company. Morgan Stanley set a $7.00 price target on Leslie's in a report on Tuesday. Telsey Advisory Group reissued a "market perform" rating and issued a $7.00 price target on shares of Leslie's in a report on Wednesday, September 17th. Mizuho reduced their price target on Leslie's from $60.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Leslie's in a research note on Saturday, September 27th. Nine analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Leslie's presently has a consensus rating of "Reduce" and a consensus target price of $29.13.

Leslie's Stock Performance

Leslie's stock traded down $0.65 during mid-day trading on Friday, reaching $4.92. 582,889 shares of the company were exchanged, compared to its average volume of 147,210. Leslie's has a twelve month low of $4.85 and a twelve month high of $72.60. The firm's 50-day simple moving average is $6.50 and its two-hundred day simple moving average is $10.53. The firm has a market cap of $45.66 million, a PE ratio of -0.55 and a beta of 1.24.

Hedge Funds Weigh In On Leslie's

Several hedge funds have recently bought and sold shares of LESL. Ariel Investments LLC increased its position in Leslie's by 15.1% during the first quarter. Ariel Investments LLC now owns 58,177,415 shares of the company's stock worth $42,789,000 after buying an additional 7,649,626 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Leslie's during the first quarter worth $1,543,000. King Street Capital Management L.P. purchased a new position in Leslie's during the second quarter worth $630,000. Jane Street Group LLC increased its position in Leslie's by 61.3% during the second quarter. Jane Street Group LLC now owns 3,570,476 shares of the company's stock worth $1,499,000 after buying an additional 1,356,700 shares in the last quarter. Finally, Graham Capital Management L.P. increased its position in Leslie's by 701.5% during the first quarter. Graham Capital Management L.P. now owns 1,373,990 shares of the company's stock worth $1,011,000 after buying an additional 1,202,568 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.