Zacks Investment Research Upgrades Lands’ End, Inc. (LE) to “Buy”
Zacks Investment Research upgraded shares of Lands’ End, Inc. (NASDAQ:LE) from a hold rating to a buy rating in a research note released on Saturday morning. Zacks Investment Research currently has $13.00 price objective on the stock.
According to Zacks, “Lands’ End, Inc. operates as a multi-channel retailer. It offers men’s, women’s, and kids’ apparel, outerwear and swimwear; specialty apparel; accessories; footwear; and home products. The Company operates in two segments: Direct and Retail. It offers products through catalogs, online at www.landsend.com and affiliated specialty and international Websites, and through retail locations. Lands’ End, Inc. is based in Dodgeville, Wisconsin. “
Several other research analysts also recently commented on LE. BidaskClub downgraded Lands’ End from a sell rating to a strong sell rating in a report on Wednesday, September 6th. Craig Hallum set a $15.00 target price on Lands’ End and gave the stock a hold rating in a report on Wednesday, June 21st. TheStreet downgraded Lands’ End from a c- rating to a d+ rating in a report on Thursday, June 8th. Finally, ValuEngine raised Lands’ End from a sell rating to a hold rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Lands’ End currently has an average rating of Hold and a consensus price target of $14.00.
Shares of Lands’ End (LE) opened at 11.85 on Friday. The company’s market cap is $379.54 million. The company has a 50 day moving average price of $12.95 and a 200 day moving average price of $17.03. Lands’ End has a one year low of $11.20 and a one year high of $24.80.
Lands’ End (NASDAQ:LE) last released its quarterly earnings data on Thursday, August 31st. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). Lands’ End had a negative return on equity of 0.73% and a negative net margin of 8.48%. The company had revenue of $302.19 million for the quarter, compared to analyst estimates of $292.59 million. During the same period in the prior year, the company posted ($0.06) EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts expect that Lands’ End will post $0.15 earnings per share for the current year.
In other news, major shareholder Edward S. Lampert acquired 128,534 shares of Lands’ End stock in a transaction on Friday, July 21st. The shares were purchased at an average price of $13.44 per share, with a total value of $1,727,496.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Edward S. Lampert acquired 550,100 shares of Lands’ End stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $13.48 per share, for a total transaction of $7,415,348.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 3,077,570 shares of company stock worth $40,178,858. Company insiders own 0.51% of the company’s stock.
Several hedge funds have recently bought and sold shares of LE. American International Group Inc. increased its position in shares of Lands’ End by 7.1% in the 1st 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 in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Lands’ End in the 2nd quarter valued at $199,000. Metropolitan Life Insurance Co. NY increased its position in shares of Lands’ End by 4.3% in the 1st 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 increased its position in shares of Lands’ End by 77.2% in the 1st 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 shares of Lands’ End in the 1st quarter valued at $388,000. 60.51% 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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