Lands’ End (NASDAQ:LE) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Lands’ End, Inc. (NASDAQ:LE) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.55 and traded as high as $11.59. Lands’ End shares last traded at $11.09, with a volume of 162,287 shares traded.

Analyst Ratings Changes

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

Lands’ End Trading Down 3.9%

The firm’s 50-day moving average price is $11.49 and its 200-day moving average price is $14.26. The company has a quick ratio of 0.41, a current ratio of 1.61 and a debt-to-equity ratio of 0.88. The company has a market cap of $327.80 million, a P/E ratio of 59.23 and a beta of 2.36.

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

Lands’ End announced that its board has initiated a stock repurchase plan on Wednesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows 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 leadership believes its stock is undervalued.

Hedge Funds Weigh In On Lands’ End

Several hedge funds have recently bought and sold shares of LE. Weiss Asset Management LP purchased a new position in Lands’ End during the first quarter valued at approximately $8,990,000. Arrowstreet Capital Limited Partnership grew its stake in Lands’ End by 76.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 487,183 shares of the company’s stock valued at $6,869,000 after acquiring an additional 211,736 shares in the last quarter. Towerview LLC grew its stake in Lands’ End by 37.5% during the first quarter. Towerview LLC now owns 592,701 shares of the company’s stock valued at $6,662,000 after acquiring an additional 161,701 shares in the last quarter. Bank of America Corp DE grew its stake in Lands’ End by 29.9% during the first quarter. Bank of America Corp DE now owns 532,956 shares of the company’s stock valued at $5,990,000 after acquiring an additional 122,650 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Lands’ End by 147.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 202,024 shares of the company’s stock valued at $2,849,000 after acquiring an additional 120,342 shares in the last quarter. Hedge funds and other institutional investors own 37.46% of the company’s stock.

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.