Zacks Research Upgrades Leslie's (NASDAQ:LESL) to Hold

Key Points

• Zacks Research upgraded Leslie's stock from a "strong sell" to a "hold" rating, reflecting a shift in analyst sentiment.
• Leslie's current consensus target price stands at $29.13, with ten analysts rating it as "Hold" and two as "Sell."
• Despite the upgrade, Leslie's shares have seen a 11.7% decrease recently, trading at approximately $4.92.

Leslie's (NASDAQ:LESL - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Leslie's in a report on Saturday, September 27th. Morgan Stanley set a $7.00 price target on shares of Leslie's in a report on Tuesday. Telsey Advisory Group reaffirmed 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 shares of Leslie's from $60.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Finally, Wall Street Zen raised shares of Leslie's to a "sell" rating in a report on Friday. Ten research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Leslie's has a consensus rating of "Reduce" and a consensus target price of $29.13.

Leslie's Trading Down 11.7%

Shares of LESL opened at $4.92 on Thursday. The firm's 50-day moving average is $6.50 and its two-hundred day moving average is $10.53. Leslie's has a twelve month low of $4.85 and a twelve month high of $72.60. The firm has a market capitalization of $45.66 million, a P/E ratio of -0.55 and a beta of 1.24.

Hedge Funds Weigh In On Leslie's

Large investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. purchased a new position in Leslie's during the first quarter worth approximately $1,543,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Leslie's by 13.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 461,502 shares of the company's stock worth $1,029,000 after purchasing an additional 55,701 shares during the period. Two Sigma Advisers LP purchased a new position in Leslie's during the fourth quarter worth approximately $39,000. Nuveen LLC purchased a new position in Leslie's during the first quarter worth approximately $320,000. Finally, Ariel Investments LLC raised its stake 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 purchasing an additional 7,649,626 shares during the period.

About Leslie's

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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