William Blair analyst Ryan Merkel has maintained their neutral stance on LESL stock, giving a Hold rating on August 2.
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Ryan Merkel has given his Hold rating due to a combination of factors impacting Leslie’s current market position. The company is facing challenging market conditions, with a disappointing fourth-quarter outlook that has not met investor expectations. Despite some initial cost-cutting measures and plans for further optimization, there is a lack of detailed information on these initiatives, which adds uncertainty to the company’s future performance.
Moreover, Leslie’s is dealing with a declining retail pool market, price competition, and unfavorable weather conditions, which have all negatively affected its recent performance. The company’s focus on debt reduction and inventory optimization is a positive step, but the overall market environment remains a significant hurdle. Until there is a clearer improvement in the pool market and better execution of cost-saving strategies, Ryan Merkel maintains a cautious stance with a Hold rating.
In another report released on August 2, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $0.50 price target.