Leslie’s (NASDAQ:LESL) Lowered to Underperform Rating by Bank of America

Bank of America downgraded shares of Leslie’s (NASDAQ:LESL) from a buy rating to an underperform rating in a research report released on Tuesday, MarketBeat reports. Bank of America currently has $1.40 price target on the stock, down from their prior price target of $2.65.

Several other equities research analysts have also recently issued reports on the stock. Mizuho reduced their price objective on shares of Leslie’s from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Telsey Advisory Group dropped their price objective on shares of Leslie’s from $3.75 to $3.00 and set a “market perform” rating on the stock in a report on Friday, February 7th. Robert W. Baird lowered their target price on shares of Leslie’s from $4.00 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Stifel Nicolaus cut their price target on shares of Leslie’s from $1.90 to $1.55 and set a “sell” rating for the company in a report on Friday, February 7th. Finally, The Goldman Sachs Group cut their price objective on Leslie’s from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, Leslie’s presently has a consensus rating of “Hold” and an average target price of $2.83.

Leslie’s Stock Performance

Shares of Leslie’s stock opened at $1.46 on Tuesday. The stock has a market capitalization of $269.48 million, a price-to-earnings ratio of -9.70 and a beta of 1.10. The company has a fifty day moving average of $2.10 and a 200-day moving average of $2.59. Leslie’s has a 52-week low of $1.40 and a 52-week high of $8.05.

Leslie’s (NASDAQ:LESL) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Leslie’s had a negative return on equity of 6.11% and a negative net margin of 2.13%. On average, equities research analysts forecast that Leslie’s will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LESL. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Leslie’s during the 3rd quarter worth about $32,000. Blue Trust Inc. grew its position in Leslie’s by 1,089.6% during the third quarter. Blue Trust Inc. now owns 11,075 shares of the company’s stock valued at $35,000 after purchasing an additional 10,144 shares in the last quarter. Mariner LLC purchased a new position in Leslie’s during the fourth quarter valued at approximately $25,000. Ground Swell Capital LLC purchased a new position in Leslie’s during the fourth quarter valued at approximately $32,000. Finally, IHT Wealth Management LLC grew its position in Leslie’s by 52.6% during the third quarter. IHT Wealth Management LLC now owns 16,760 shares of the company’s stock valued at $51,000 after purchasing an additional 5,776 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.