Leslie’s (NASDAQ:LESL) Rating Lowered to Underperform at 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 report published on Tuesday, Marketbeat.com reports. Bank of America currently has $1.40 target price on the stock, down from their previous target price of $2.65.

Several other research firms have also recently weighed in on LESL. The Goldman Sachs Group reduced their target price on shares of Leslie’s from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus decreased their price target on shares of Leslie’s from $1.90 to $1.55 and set a “sell” rating on the stock in a research note on Friday, February 7th. Telsey Advisory Group reduced 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 research note on Friday, February 7th. Robert W. Baird reduced their price target on shares of Leslie’s from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Finally, William Blair restated a “market perform” rating on shares of Leslie’s in a report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.83.

Leslie’s Price Performance

LESL opened at $1.48 on Tuesday. The company has a market capitalization of $274.14 million, a price-to-earnings ratio of -9.87 and a beta of 1.10. Leslie’s has a 1-year low of $1.40 and a 1-year high of $8.05. The business has a 50 day moving average price of $2.07 and a two-hundred day moving average price of $2.57.

Leslie’s (NASDAQ:LESL) last announced its 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 net margin of 2.13% and a negative return on equity of 6.11%.

Hedge Funds Weigh In On Leslie’s

A number of large investors have recently modified their holdings of LESL. Wealth Enhancement Advisory Services LLC bought a new stake in Leslie’s in the third quarter valued at $32,000. Blue Trust Inc. lifted its stake in shares of Leslie’s by 1,089.6% in the 3rd quarter. Blue Trust Inc. now owns 11,075 shares of the company’s stock worth $35,000 after purchasing an additional 10,144 shares during the period. Mariner LLC purchased a new stake in Leslie’s in the fourth quarter worth about $25,000. Ground Swell Capital LLC purchased a new position in shares of Leslie’s during the 4th quarter valued at $32,000. Finally, IHT Wealth Management LLC lifted its position in shares of Leslie’s by 52.6% in the third quarter. IHT Wealth Management LLC now owns 16,760 shares of the company’s stock valued at $51,000 after acquiring an additional 5,776 shares in the last quarter.

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.