Zacks Investment Research Downgrades Lands’ End (NASDAQ:LE) to Strong Sell

Lands’ End (NASDAQ:LEGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, Zacks.com reports.

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. “

A number of other analysts have also recently weighed in on LE. Craig Hallum cut shares of Lands’ End from a “buy” rating to a “hold” rating and reduced their target price for the stock from $35.00 to $15.00 in a report on Friday, April 22nd. StockNews.com upgraded shares of Lands’ End from a “hold” rating to a “buy” rating in a report on Friday, June 3rd.

Lands’ End stock opened at $10.88 on Wednesday. The firm has a 50 day simple moving average of $14.03 and a 200-day simple moving average of $17.17. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.29 and a quick ratio of 0.48. The stock has a market capitalization of $363.54 million, a PE ratio of 12.95 and a beta of 2.56. Lands’ End has a 12-month low of $10.00 and a 12-month high of $44.40.

Lands’ End (NASDAQ:LEGet Rating) last posted its quarterly earnings data on Thursday, June 2nd. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.03. Lands’ End had a net margin of 1.75% and a return on equity of 7.12%. During the same period in the previous year, the firm earned $0.08 earnings per share. On average, analysts forecast that Lands’ End will post 0.74 earnings per share for the current fiscal year.

In related news, major shareholder Edward S. Lampert sold 2,913 shares of the company’s stock in a transaction that occurred on Wednesday, April 6th. The shares were sold at an average price of $16.25, for a total value of $47,336.25. Following the completion of the sale, the insider now owns 17,114,430 shares in the company, valued at approximately $278,109,487.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. Morgan Stanley lifted its position in Lands’ End by 463.0% in the 2nd quarter. Morgan Stanley now owns 58,005 shares of the company’s stock worth $2,381,000 after buying an additional 47,703 shares in the last quarter. Wells Fargo & Company MN lifted its position in Lands’ End by 67.9% in the 2nd quarter. Wells Fargo & Company MN now owns 58,922 shares of the company’s stock worth $2,419,000 after buying an additional 23,824 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in Lands’ End by 122.6% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,211 shares of the company’s stock worth $123,000 after buying an additional 2,870 shares in the last quarter. Citigroup Inc. lifted its position in Lands’ End by 87.9% in the 3rd quarter. Citigroup Inc. now owns 18,709 shares of the company’s stock worth $440,000 after buying an additional 8,752 shares in the last quarter. Finally, Credit Suisse AG lifted its position in Lands’ End by 25.8% in the 3rd quarter. Credit Suisse AG now owns 13,872 shares of the company’s stock worth $327,000 after buying an additional 2,843 shares in the last quarter. Institutional investors and hedge funds own 40.57% of the company’s stock.

Lands’ End Company Profile (Get Rating)

Lands' End, Inc operates as a uni-channel retailer of casual clothing, accessories, footwear, and home products in the United States, Europe, Asia, and internationally. It operates through U.S. eCommerce, Europe eCommerce, Japan eCommerce, Outfitters, Third Party, and Retail segments. The company sells its products online through e-commerce, company operated stores, as well as through third party distribution channels under the Lands' End, Let's Get Comfy, Lands' End Lighthouse, Square Rigger, Squall, Super-T, Drifter, Outrigger, Marinac, Beach Living, as well as Supima, No-Gape, Starfish, Iron Knees, Hyde Park, Year' Rounder, ClassMate, Willis & Geiger, and ThermaCheck brands.

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