Morgan Stanley Issues Pessimistic Forecast for Leslie’s (NASDAQ:LESL) Stock Price

Leslie’s (NASDAQ:LESL) had its target price lowered by Morgan Stanley from $3.00 to $1.50 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities analysts also recently commented on the stock. Mizuho lowered their target price 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. William Blair restated a “market perform” rating on shares of Leslie’s in a report on Tuesday, November 26th. Robert W. Baird set a $3.00 price target on shares of Leslie’s in a report on Tuesday, February 4th. Bank of America cut shares of Leslie’s from a “buy” rating to an “underperform” rating and decreased their price target for the company from $2.65 to $1.40 in a report on Tuesday, February 18th. Finally, Stifel Nicolaus decreased 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. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat.com, Leslie’s presently has an average rating of “Hold” and an average target price of $2.65.

Leslie’s Price Performance

Leslie’s stock opened at $1.01 on Monday. The company has a market capitalization of $187.08 million, a price-to-earnings ratio of -6.73 and a beta of 1.10. Leslie’s has a one year low of $0.91 and a one year high of $8.02. The company’s fifty day moving average price is $1.87 and its two-hundred day moving average price is $2.45.

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

Institutional Investors Weigh In On Leslie’s

Several hedge funds have recently made changes to their positions in LESL. Mariner LLC bought a new stake in shares of Leslie’s in the fourth quarter valued at about $25,000. Wealth Enhancement Advisory Services LLC bought a new position in Leslie’s during the third quarter worth about $32,000. Ground Swell Capital LLC bought a new position in Leslie’s during the fourth quarter worth about $32,000. Cibc World Markets Corp bought a new position in Leslie’s during the fourth quarter worth about $38,000. Finally, Two Sigma Advisers LP bought a new position in Leslie’s during the fourth quarter worth about $39,000.

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.