L Brands (NYSE:LB) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday, January 2nd, Marketbeat Ratings reports. The firm presently has a $70.00 target price on the specialty retailer’s stock, up from their prior target price of $60.00. Robert W. Baird’s target price indicates a potential upside of 44.84% from the company’s current price.
A number of other research firms also recently weighed in on LB. BMO Capital Markets set a $56.00 price target on shares of L Brands and gave the stock a “hold” rating in a research note on Tuesday, December 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 target price on shares of L Brands in a research note on Thursday, December 14th. CIBC reaffirmed a “hold” rating and issued a $60.00 target price on shares of L Brands in a research note on Friday, December 8th. Telsey Advisory Group upped their target price on shares of L Brands from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 4th. Finally, B. Riley reaffirmed a “buy” rating and issued a $58.00 target price on shares of L Brands in a research note on Wednesday, November 29th. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $51.86.
L Brands (NYSE:LB) traded up $0.95 on Tuesday, hitting $48.33. 4,702,600 shares of the company were exchanged, compared to its average volume of 7,774,443. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45. The company has a market capitalization of $14,090.00, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. L Brands has a twelve month low of $35.00 and a twelve month high of $63.10.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.57 billion. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. L Brands’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. equities analysts anticipate that L Brands will post 3.13 earnings per share for the current fiscal year.
L Brands declared that its Board of Directors has approved a stock buyback program on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the specialty retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other L Brands news, Director David T. Kollat bought 9,910 shares of L Brands stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the acquisition, the director now owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.68% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in L Brands by 1.3% in the second quarter. BlackRock Inc. now owns 19,257,392 shares of the specialty retailer’s stock valued at $1,037,783,000 after acquiring an additional 256,464 shares during the last quarter. Vanguard Group Inc. lifted its stake in L Brands by 3.1% in the second quarter. Vanguard Group Inc. now owns 16,435,626 shares of the specialty retailer’s stock valued at $885,716,000 after acquiring an additional 495,987 shares during the last quarter. FMR LLC lifted its stake in L Brands by 2.8% in the second quarter. FMR LLC now owns 11,403,917 shares of the specialty retailer’s stock valued at $614,558,000 after acquiring an additional 305,365 shares during the last quarter. State Street Corp lifted its stake in L Brands by 0.3% in the second quarter. State Street Corp now owns 10,388,390 shares of the specialty retailer’s stock valued at $559,827,000 after acquiring an additional 33,815 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in L Brands by 29.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock valued at $172,952,000 after acquiring an additional 935,259 shares during the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.
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L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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