Lands’ End (NASDAQ:LE) Board of Directors Announces Stock Buyback Program

Lands’ End (NASDAQ:LE) declared that its Board of Directors has authorized a share repurchase program on Wednesday, April 1st, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 28.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Lands’ End Trading Down 0.2%

NASDAQ:LE opened at $11.54 on Friday. Lands’ End has a 1 year low of $7.65 and a 1 year high of $20.04. The stock’s fifty day moving average price is $15.90 and its two-hundred day moving average price is $15.53. 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 company has a market cap of $354.86 million, a P/E ratio of 64.11 and a beta of 2.49.

Lands’ End (NASDAQ:LE) last posted its 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). The company had revenue of $462.37 million for the quarter, compared to analysts’ expectations of $471.01 million. Lands’ End had a net margin of 0.41% and a return on equity of 9.80%. As a group, analysts expect that Lands’ End will post 0.41 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LE shares. Weiss Ratings restated a “hold (c)” rating on shares of Lands’ End in a research report on Monday, December 29th. Wall Street Zen lowered shares of 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, the stock presently has a consensus rating of “Hold”.

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.