Telsey Advisory Group Cuts Leslie’s (NASDAQ:LESL) Price Target to $3.00

Leslie’s (NASDAQ:LESL) had its target price reduced by investment analysts at Telsey Advisory Group from $3.75 to $3.00 in a report issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 33.93% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. 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 note on Tuesday, November 26th. William Blair reissued a “market perform” rating on shares of Leslie’s in a research report on Tuesday, November 26th. Finally, Mizuho cut their target price on Leslie’s from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Leslie’s has an average rating of “Hold” and an average target price of $3.39.

Leslie’s Price Performance

LESL opened at $2.24 on Friday. Leslie’s has a fifty-two week low of $1.91 and a fifty-two week high of $8.21. The firm has a market capitalization of $414.87 million, a price-to-earnings ratio of -18.67 and a beta of 1.10. The company’s 50 day moving average price is $2.23 and its two-hundred day moving average price is $2.66.

Leslie’s (NASDAQ:LESL) last posted its earnings results on Thursday, February 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Leslie’s had a negative return on equity of 6.11% and a negative net margin of 1.76%. As a group, equities research analysts predict that Leslie’s will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. boosted its holdings in Leslie’s by 587.5% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 550,000 shares of the company’s stock worth $1,226,000 after acquiring an additional 470,000 shares in the last quarter. Raymond James Financial Inc. bought a new position in Leslie’s in the fourth quarter worth approximately $1,807,000. Charles Schwab Investment Management Inc. boosted its holdings in Leslie’s by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,699,861 shares of the company’s stock worth $3,791,000 after acquiring an additional 54,318 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Leslie’s by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 900,877 shares of the company’s stock worth $2,009,000 after acquiring an additional 27,615 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Leslie’s by 9.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,136,076 shares of the company’s stock worth $6,993,000 after acquiring an additional 258,686 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.