Lands’ End, Inc. (LE) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Lands’ End, Inc. (NASDAQ:LE) from a buy rating to a hold rating in a report issued on Wednesday.

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. “

Separately, BidaskClub lowered Lands’ End from a sell rating to a strong sell rating in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has an average rating of Hold and a consensus target price of $14.00.

Lands’ End (NASDAQ:LE) last issued its quarterly earnings data on Thursday, August 31st. The company reported ($0.12) EPS 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 last year, the company earned ($0.06) earnings per share. Lands’ End’s quarterly revenue was up 3.5% compared to the same quarter last year.

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In other news, CEO Jerome Griffith purchased 20,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were purchased at an average cost of $11.47 per share, with a total value of $229,400.00. Following the completion of the purchase, the chief executive officer now directly owns 81,717 shares of the company’s stock, valued at approximately $937,293.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Edward S. Lampert purchased 19,178 shares of the stock in a transaction dated Monday, August 21st. The stock was purchased at an average cost of $12.59 per share, for a total transaction of $241,451.02. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,060,823 shares of company stock worth $13,209,089. 0.51% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. American International Group Inc. boosted its stake 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 worth $197,000 after acquiring an additional 608 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Lands’ End by 4.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 12,231 shares of the company’s stock worth $262,000 after buying an additional 500 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Lands’ End during the second quarter worth $199,000. Nationwide Fund Advisors boosted its stake in Lands’ End by 110.3% during the third quarter. Nationwide Fund Advisors now owns 17,033 shares of the company’s stock worth $225,000 after buying an additional 8,934 shares during the last quarter. Finally, Credit Suisse AG boosted its stake in Lands’ End by 84.7% during the first quarter. Credit Suisse AG now owns 31,995 shares of the company’s stock worth $686,000 after buying an additional 14,677 shares during the last quarter. 60.54% of the stock is currently owned by hedge funds and other 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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