Lands' End (NASDAQ:LE) Shares Cross Below Two Hundred Day Moving Average - Here's Why

Key Points

• Lands' End shares crossed below its 200-day moving average of $15.05, trading as low as $10.87 and last at $10.98 (50-day MA $13.49), signaling technical weakness.
• The board approved a $100 million share buyback that could repurchase up to 28.9% of outstanding shares, a sign management may view the stock as undervalued.
• The company slightly missed quarterly expectations (EPS $0.76 vs. $0.77; revenue $462.4M vs. $471.0M), carries a market cap of $337.7M and a high PE of 61, and currently holds an analyst consensus rating of Hold.

Lands' End, Inc. (NASDAQ:LE - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.05 and traded as low as $10.87. Lands' End shares last traded at $10.98, with a volume of 181,556 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Lands' End from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Lands' End Stock Down 1.2%

The stock has a fifty day moving average price of $13.49 and a 200-day moving average price of $15.05. The firm has a market cap of $337.65 million, a PE ratio of 61.00 and a beta of 2.49. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.41 and a current ratio of 1.61.

Lands' End (NASDAQ:LE - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $471.01 million. Research analysts expect that Lands' End, Inc. will post 0.97 EPS for the current year.

Lands' End declared that its Board of Directors has approved a share buyback plan on Wednesday, April 1st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Institutional Trading of Lands' End

A number of institutional investors have recently added to or reduced their stakes in LE. Arrowstreet Capital Limited Partnership raised its position in Lands' End by 76.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 487,183 shares of the company's stock valued at $6,869,000 after purchasing an additional 211,736 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Lands' End by 147.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 202,024 shares of the company's stock worth $2,849,000 after buying an additional 120,342 shares during the period. Millennium Management LLC grew its stake in shares of Lands' End by 686.0% in the third quarter. Millennium Management LLC now owns 122,415 shares of the company's stock valued at $1,726,000 after buying an additional 106,840 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Lands' End in the fourth quarter valued at about $1,528,000. Finally, UBS Group AG grew its stake in shares of Lands' End by 197.4% in the third quarter. UBS Group AG now owns 132,610 shares of the company's stock valued at $1,870,000 after buying an additional 88,017 shares in the last quarter. 37.46% of the stock is owned by hedge funds and other institutional investors.

Lands' End Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.