Robert W. Baird Issues Pessimistic Forecast for Leslie’s (NASDAQ:LESL) Stock Price

Leslie’s (NASDAQ:LESL) had its price objective reduced by analysts at Robert W. Baird from $4.00 to $3.50 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 41.13% from the stock’s previous close.

Several other analysts have also recently commented on LESL. Mizuho reduced their target price on Leslie’s from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Telsey Advisory Group reduced their target price on Leslie’s from $4.00 to $3.75 and set a “market perform” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Leslie’s currently has an average rating of “Hold” and a consensus price target of $3.89.

Leslie’s Price Performance

Leslie’s stock opened at $2.48 on Tuesday. The business has a 50 day moving average of $2.85 and a 200-day moving average of $3.48. Leslie’s has a 1 year low of $2.31 and a 1 year high of $8.21. The company has a market capitalization of $458.58 million, a P/E ratio of -20.92, a P/E/G ratio of 2.37 and a beta of 1.19.

Hedge Funds Weigh In On Leslie’s

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ariel Investments LLC boosted its holdings in shares of Leslie’s by 46.5% during the 2nd quarter. Ariel Investments LLC now owns 36,601,368 shares of the company’s stock worth $153,360,000 after buying an additional 11,618,490 shares in the last quarter. State Street Corp raised its position in shares of Leslie’s by 7.7% during the third quarter. State Street Corp now owns 8,406,377 shares of the company’s stock worth $26,564,000 after purchasing an additional 601,177 shares during the period. Janus Henderson Group PLC raised its position in shares of Leslie’s by 2.2% during the first quarter. Janus Henderson Group PLC now owns 7,320,338 shares of the company’s stock worth $47,581,000 after purchasing an additional 156,938 shares during the period. Private Management Group Inc. raised its position in shares of Leslie’s by 121.3% during the third quarter. Private Management Group Inc. now owns 5,569,278 shares of the company’s stock worth $17,599,000 after purchasing an additional 3,052,539 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Leslie’s by 13.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,877,390 shares of the company’s stock worth $9,093,000 after purchasing an additional 345,064 shares during the period.

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.