Leslie’s (NASDAQ:LESL) Price Target Cut to $3.00

Leslie’s (NASDAQ:LESL) had its target price dropped by Piper Sandler from $6.00 to $3.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential downside of 26.47% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. Telsey Advisory Group decreased their target price on shares of Leslie’s from $6.00 to $4.00 and set a “market perform” rating for the company in a research report on Thursday. Mizuho decreased their target price on shares of Leslie’s from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Stifel Nicolaus cut shares of Leslie’s from a “hold” rating to a “sell” rating and decreased their target price for the stock from $5.25 to $2.50 in a research report on Thursday. Finally, Jefferies Financial Group decreased their target price on shares of Leslie’s from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Leslie’s has a consensus rating of “Hold” and an average target price of $4.74.

Leslie’s Stock Down 0.2 %

LESL opened at $4.08 on Thursday. The firm has a market cap of $753.74 million, a price-to-earnings ratio of 51.00, a price-to-earnings-growth ratio of 0.61 and a beta of 1.16. Leslie’s has a fifty-two week low of $3.12 and a fifty-two week high of $8.21. The company’s 50-day moving average price is $4.63 and its 200 day moving average price is $5.79.

Leslie’s (NASDAQ:LESL) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). Leslie’s had a net margin of 1.06% and a negative return on equity of 12.55%. The firm had revenue of $188.66 million for the quarter, compared to analyst estimates of $202.69 million. Research analysts anticipate that Leslie’s will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LESL. Natixis Advisors L.P. boosted its holdings in shares of Leslie’s by 136.6% in the fourth quarter. Natixis Advisors L.P. now owns 2,230,959 shares of the company’s stock valued at $15,415,000 after acquiring an additional 1,288,013 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in Leslie’s by 26.6% during the fourth quarter. DAVENPORT & Co LLC now owns 4,018,954 shares of the company’s stock worth $27,771,000 after buying an additional 845,615 shares in the last quarter. Clearfield Capital Management LP bought a new stake in Leslie’s during the fourth quarter worth approximately $4,928,000. Vanguard Group Inc. boosted its holdings in Leslie’s by 3.6% during the third quarter. Vanguard Group Inc. now owns 18,624,433 shares of the company’s stock worth $105,414,000 after buying an additional 647,841 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Leslie’s by 18.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,633,997 shares of the company’s stock worth $18,201,000 after buying an additional 404,635 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.