Leslie’s (NASDAQ:LESL) Cut to “Underperform” at Bank of America

Bank of America lowered shares of Leslie’s (NASDAQ:LESL) from a buy rating to an underperform rating in a report issued on Tuesday morning, Marketbeat reports. They currently have $1.40 target price on the stock, down from their prior target price of $2.65.

LESL has been the topic of several other research reports. Stifel Nicolaus lowered their price objective on shares of Leslie’s from $1.90 to $1.55 and set a “sell” rating on the stock in a research report on Friday, February 7th. Mizuho lowered their price objective on shares of Leslie’s from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Robert W. Baird reduced their price objective 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. The Goldman Sachs Group decreased their price target 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. Finally, William Blair reiterated a “market perform” rating on shares of Leslie’s in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.83.

Leslie’s Stock Performance

Shares of LESL opened at $1.48 on Tuesday. The firm’s 50-day simple moving average is $2.07 and its 200 day simple moving average is $2.57. Leslie’s has a 52 week low of $1.40 and a 52 week high of $8.05. The firm has a market cap of $274.14 million, a P/E ratio of -9.87 and a beta of 1.10.

Leslie’s (NASDAQ:LESL) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.23) 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

Institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Leslie’s by 13.7% in 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 valued at $1,029,000 after buying an additional 55,701 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Leslie’s during the fourth quarter valued at approximately $39,000. Two Sigma Investments LP lifted its stake in shares of Leslie’s by 297.7% during the fourth quarter. Two Sigma Investments LP now owns 474,875 shares of the company’s stock valued at $1,059,000 after buying an additional 355,474 shares during the period. Shay Capital LLC purchased a new position in Leslie’s during the fourth quarter worth approximately $1,454,000. Finally, ProShare Advisors LLC raised its stake in Leslie’s by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 54,268 shares of the company’s stock worth $121,000 after purchasing an additional 16,674 shares during the period.

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.