Lands’ End, Inc. (LE) Cut to Strong Sell at BidaskClub
BidaskClub downgraded shares of Lands’ End, Inc. (NASDAQ:LE) from a sell rating to a strong sell rating in a report released on Friday morning.
Other equities analysts also recently issued research reports about the stock. TheStreet downgraded shares of Lands’ End from a c- rating to a d+ rating in a research note on Thursday, June 8th. Craig Hallum set a $15.00 price objective on shares of Lands’ End and gave the stock a hold rating in a research report on Wednesday, June 21st. Zacks Investment Research lowered shares of Lands’ End from a hold rating to a sell rating in a research report on Tuesday, June 13th. Finally, ValuEngine raised shares of Lands’ End from a sell rating to a hold rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $15.00.
Shares of Lands’ End (NASDAQ:LE) opened at 13.20 on Friday. The stock has a 50 day moving average price of $13.39 and a 200 day moving average price of $17.45. The company’s market capitalization is $422.78 million. Lands’ End has a one year low of $11.75 and a one year high of $24.80.
Lands’ End (NASDAQ:LE) last announced its quarterly earnings results on Tuesday, June 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.01. Lands’ End had a negative net margin of 8.41% and a negative return on equity of 0.07%. The company had revenue of $268.37 million for the quarter, compared to the consensus estimate of $270.10 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities research analysts predict that Lands’ End will post $0.19 earnings per share for the current year.
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In related news, CEO Jerome Griffith bought 10,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were purchased at an average price of $16.25 per share, with a total value of $162,500.00. Following the purchase, the chief executive officer now owns 61,717 shares in the company, valued at $1,002,901.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Edward S. Lampert bought 5,000 shares of the stock in a transaction on Monday, July 31st. The shares were bought at an average cost of $13.00 per share, for a total transaction of $65,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 2,334,331 shares of company stock worth $30,981,963. 0.51% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. American International Group Inc. boosted its position in shares of Lands’ End by 7.1% in the first quarter. American International Group Inc. now owns 9,188 shares of the company’s stock valued at $197,000 after buying an additional 608 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Lands’ End during the second quarter valued at approximately $199,000. Metropolitan Life Insurance Co. NY boosted its stake in Lands’ End by 4.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 12,231 shares of the company’s stock valued at $262,000 after buying an additional 500 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Lands’ End by 77.2% in the first quarter. Penserra Capital Management LLC now owns 17,819 shares of the company’s stock valued at $382,000 after buying an additional 7,762 shares in the last quarter. Finally, OZ Management LP bought a new stake in Lands’ End during the first quarter valued at approximately $388,000. 60.64% of the stock is currently owned by institutional investors.
About Lands’ End
Lands’ End, Inc (Lands’ End) is a multi-channel retailer of casual clothing, accessories and footwear, as well as home products. The Company operates through two segments: Direct and Retail. The Company offers products through catalogs, online at www.landsend.com. The Direct segment sells products through the Company’s e-commerce Websites, international Websites and direct mail catalogs.
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