Share Buyback Plan Approved by Lands’ End (NASDAQ:LE) Board of Directors

Lands’ End (NASDAQ:LE) announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 1st, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LE. Wall Street Zen downgraded Lands’ End from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Lands’ End in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Lands’ End Stock Performance

Shares of LE opened at $11.54 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.41 and a debt-to-equity ratio of 0.88. The firm’s fifty day simple moving average is $15.85 and its two-hundred day simple moving average is $15.50. Lands’ End has a 12 month low of $7.65 and a 12 month high of $20.04. The stock has a market capitalization of $354.86 million, a P/E ratio of 64.11 and a beta of 2.49.

Lands’ End (NASDAQ:LE) last posted its quarterly earnings data on Thursday, March 19th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.01). Lands’ End had a return on equity of 9.80% and a net margin of 0.41%.The business had revenue of $462.37 million during the quarter, compared to the consensus estimate of $471.01 million. As a group, analysts predict that Lands’ End will post 0.41 EPS for the current year.

About Lands’ End

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.