Lands’ End (NASDAQ:LE) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Lands’ End, Inc. (NASDAQ:LE)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.94 and traded as low as $11.21. Lands’ End shares last traded at $11.56, with a volume of 216,071 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Lands’ End from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Lands’ End presently has a consensus rating of “Hold”.

Lands’ End Stock Performance

The company’s 50 day moving average price is $12.96 and its 200-day moving average price is $14.94. The stock has a market cap of $355.47 million, a P/E ratio of 64.23 and a beta of 2.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.41 and a current ratio of 1.61.

Lands’ End (NASDAQ:LE) last released its quarterly earnings results on Thursday, March 19th. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). Lands’ End had a net margin of 0.41% and a return on equity of 9.80%. The firm had revenue of $462.37 million for the quarter, compared to the consensus estimate of $471.01 million. Equities analysts forecast that Lands’ End, Inc. will post 0.97 EPS for the current fiscal year.

Lands’ End announced that its board has approved a stock buyback plan on Wednesday, April 1st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 28.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Lands’ End

Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its holdings in shares of Lands’ End by 3.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 19,835 shares of the company’s stock valued at $288,000 after acquiring an additional 674 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Lands’ End by 83.0% during the third quarter. BNP Paribas Financial Markets now owns 2,384 shares of the company’s stock worth $34,000 after acquiring an additional 1,081 shares during the period. Strs Ohio boosted its position in Lands’ End by 3.5% in the fourth quarter. Strs Ohio now owns 35,600 shares of the company’s stock worth $517,000 after purchasing an additional 1,200 shares during the last quarter. Wells Fargo & Company MN boosted its position in Lands’ End by 14.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,355 shares of the company’s stock worth $150,000 after purchasing an additional 1,309 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Lands’ End by 10.1% in the 4th quarter. Russell Investments Group Ltd. now owns 20,290 shares of the company’s stock valued at $295,000 after purchasing an additional 1,853 shares during the period. Hedge funds and other institutional investors own 37.46% of the company’s stock.

Lands’ End Company Profile

Lands’ End, Inc (NASDAQ: LE) is an American retailer specializing in casual apparel, accessories and home goods. Headquartered in Dodgeville, Wisconsin, the company sells its products through a combination of direct-to-consumer channels including e-commerce, catalogues and a network of outlet stores. Lands’ End is known for its nautical-inspired designs, functional outerwear and commitment to quality fabrics.

Founded in 1963 by Gary Comer as a mail-order sailing supply business, Lands’ End rapidly expanded its product offering beyond marine gear.