Leslie’s, Inc. (NASDAQ:LESL – Get Free Report) was the target of a large decrease in short interest in May. As of May 29th, there was short interest totaling 1,075,973 shares, a decrease of 38.7% from the May 14th total of 1,754,995 shares. Currently, 11.6% of the company’s stock are short sold. Based on an average trading volume of 498,668 shares, the days-to-cover ratio is presently 2.2 days.
Analyst Ratings Changes
Several research firms have recently issued reports on LESL. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Leslie’s in a research report on Wednesday, March 25th. Wolfe Research restated an “outperform” rating and issued a $3.00 target price (up from $2.00) on shares of Leslie’s in a report on Thursday, May 14th. Zacks Research upgraded shares of Leslie’s from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 17th. Mizuho lowered their target price on shares of Leslie’s from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Friday, May 8th. Finally, Morgan Stanley set a $1.00 target price on shares of Leslie’s and gave the company an “underweight” rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $2.85.
Read Our Latest Analysis on LESL
Leslie’s Trading Down 1.9%
Leslie’s (NASDAQ:LESL – Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported ($5.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.41) by ($0.95). The company had revenue of $184.74 million during the quarter, compared to analysts’ expectations of $162.48 million. On average, equities analysts predict that Leslie’s will post -2.73 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of LESL. Engineers Gate Manager LP raised its holdings 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 valued at $26,000 after buying an additional 46,468 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Leslie’s in the fourth quarter valued at about $29,000. Quadrature Capital Ltd purchased a new stake in shares of Leslie’s in the fourth quarter valued at about $34,000. Barclays PLC purchased a new stake in shares of Leslie’s in the fourth quarter valued at about $35,000. Finally, Scopia Capital Management LP purchased a new stake in shares of Leslie’s in the second quarter valued at about $41,000.
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.
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