Leslie’s, Inc. (NASDAQ:LESL) has received an optimistic earnings forecast from Telsey Advisory Group, which raised its estimates for the company’s fourth-quarter earnings per share. In a research note released on November 28, 2023, analyst D. Telsey projected that Leslie’s will achieve earnings of $1.17 per share, an increase from the prior estimate of $1.10.
Telsey Advisory Group currently maintains a “Market Perform” rating for the stock, along with a price target of $3.00. This adjustment reflects a growing confidence in the company’s financial performance as the end of the fiscal year approaches.
Market Sentiment and Analyst Ratings
The sentiment surrounding Leslie’s has been mixed among analysts. Weiss Ratings reaffirmed a “sell (d-)” rating on October 8, 2023, while Zacks Research upgraded the stock from a “strong sell” to a “hold” rating on October 2, 2023. Additionally, Wall Street Zen designated it as a “sell” on October 3, 2023, and Mizuho set a price target of $5.00 on October 16, 2023. Morgan Stanley also issued a target price of $7.00 on September 30, 2023.
Currently, eight analysts rate Leslie’s as a “Hold,” while two recommend a “Sell.” According to data from MarketBeat, the stock has a consensus rating of “Reduce” with a price target averaging $26.75.
Share Performance and Institutional Activity
On November 28, 2023, shares of Leslie’s opened at $3.58. The stock has seen a significant fluctuation over the past year, with a low of $2.72 and a high of $54.30. The company holds a market capitalization of $33.22 million and has a price-to-earnings (PE) ratio of -0.40, indicating a challenging earnings environment.
Recent trading activity reflects increased interest from institutional investors. During the second quarter, Ariel Investments LLC increased its holdings in Leslie’s by 4.7%, acquiring an additional 2,725,991 shares for a total of 60,903,406 shares valued at approximately $25,573,000. Similarly, Jane Street Group LLC expanded its position by 61.3%, adding 1,356,700 shares during the same period.
Other notable transactions include Clarkston Capital Partners LLC, which increased its stake by 0.6%, and Jacobs Levy Equity Management Inc., which entered a new position worth around $1,543,000 during the first quarter.
Leslie’s, Inc. operates as a direct-to-consumer brand focusing on pool and spa care products in the United States. The company offers a range of supplies and services for pool and spa maintenance, including chemicals, equipment, and recreational items.
As analysts continue to evaluate Leslie’s performance, the upcoming quarterly earnings report will be closely watched by investors looking for signs of recovery or further challenges ahead.
