BMO Capital Markets set a $56.00 price objective on L Brands (NYSE:LB) in a research report released on Tuesday, December 19th. The firm currently has a hold rating on the specialty retailer’s stock.
Several other equities analysts have also issued reports on LB. BidaskClub lowered L Brands from a sell rating to a strong sell rating in a research note on Tuesday, August 22nd. Zacks Investment Research lowered L Brands from a hold rating to a strong sell rating in a research note on Wednesday, August 23rd. Jefferies Group set a $30.00 price target on L Brands and gave the company a sell rating in a research note on Monday, August 28th. FBR & Co restated a buy rating and set a $58.00 price target on shares of L Brands in a research note on Thursday, August 31st. Finally, Robert W. Baird restated a hold rating and set a $44.00 price target on shares of L Brands in a research note on Friday, September 1st. Six analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $51.86.
L Brands (NYSE LB) opened at $50.01 on Tuesday. The company has a debt-to-equity ratio of -5.10, a current ratio of 1.45 and a quick ratio of 0.60. The company has a market capitalization of $14,120.00, a PE ratio of 15.25, a PEG ratio of 1.40 and a beta of 0.81. L Brands has a 12 month low of $35.00 and a 12 month high of $63.10.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. L Brands had a negative return on equity of 101.19% and a net margin of 7.73%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. research analysts predict that L Brands will post 3.13 EPS for the current fiscal year.
L Brands declared that its Board of Directors has approved a stock repurchase program on Monday, September 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other L Brands news, Director David T. Kollat bought 9,910 shares of L Brands stock in a transaction dated Monday, November 20th. The shares were acquired at an average cost of $50.34 per share, with a total value of $498,869.40. Following the acquisition, the director now directly owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.68% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Aviva PLC raised its position in L Brands by 5.7% in the 2nd quarter. Aviva PLC now owns 140,599 shares of the specialty retailer’s stock worth $7,578,000 after purchasing an additional 7,635 shares during the last quarter. Victory Capital Management Inc. raised its position in L Brands by 14.3% in the 2nd quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock worth $5,142,000 after purchasing an additional 11,967 shares during the last quarter. Swiss National Bank raised its position in L Brands by 2.8% in the 2nd quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock worth $47,719,000 after purchasing an additional 24,300 shares during the last quarter. Fosun International Ltd raised its position in L Brands by 205.4% in the 3rd quarter. Fosun International Ltd now owns 532,022 shares of the specialty retailer’s stock worth $22,137,000 after purchasing an additional 357,797 shares during the last quarter. Finally, Bridgewater Associates LP raised its position in L Brands by 16.5% in the 2nd quarter. Bridgewater Associates LP now owns 81,603 shares of the specialty retailer’s stock worth $4,398,000 after purchasing an additional 11,570 shares during the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.
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About L Brands
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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