Lands’ End, Inc. (NASDAQ:LE) Short Interest Update
by Scott Moore · The Cerbat GemLands’ End, Inc. (NASDAQ:LE – Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 2,906,790 shares, an increase of 54.6% from the March 15th total of 1,880,525 shares. Approximately 9.7% of the shares of the stock are sold short. Based on an average daily volume of 708,399 shares, the days-to-cover ratio is currently 4.1 days.
Lands’ End Trading Up 1.1%
Shares of NASDAQ:LE traded up $0.13 on Wednesday, hitting $11.55. 265,714 shares of the company’s stock were exchanged, compared to its average volume of 391,624. The stock has a market capitalization of $355.16 million, a price-to-earnings ratio of 64.17 and a beta of 2.49. Lands’ End has a 12 month low of $7.65 and a 12 month high of $20.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.61 and a quick ratio of 0.41. The business’s 50 day simple moving average is $14.72 and its two-hundred day simple moving average is $15.26.
Lands’ End (NASDAQ:LE – Get Free Report) last issued its earnings results on Thursday, March 19th. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). The company had revenue of $462.37 million during the quarter, compared to the consensus estimate of $471.01 million. Lands’ End had a return on equity of 9.80% and a net margin of 0.41%. Analysts anticipate that Lands’ End will post 0.41 EPS for the current fiscal year.
Lands’ End declared that its board has initiated a share buyback plan on Wednesday, April 1st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 28.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Wall Street Zen lowered Lands’ End from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lands’ End in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Lands’ End presently has a consensus rating of “Hold”.
Hedge Funds Weigh In On Lands’ End
Several institutional investors and hedge funds have recently added to or reduced their stakes in LE. BNP Paribas Financial Markets lifted its position in Lands’ End by 83.0% during the third quarter. BNP Paribas Financial Markets now owns 2,384 shares of the company’s stock valued at $34,000 after acquiring an additional 1,081 shares during the last quarter. Quarry LP acquired a new position in shares of Lands’ End during the third quarter valued at about $36,000. Integrated Wealth Concepts LLC purchased a new position in shares of Lands’ End in the 1st quarter valued at approximately $104,000. Los Angeles Capital Management LLC purchased a new stake in Lands’ End during the 4th quarter worth approximately $137,000. Finally, Wells Fargo & Company MN grew its stake in Lands’ End by 14.5% during the 4th quarter. Wells Fargo & Company MN now owns 10,355 shares of the company’s stock valued at $150,000 after purchasing an additional 1,309 shares during 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.