L Brands, Inc. (LB) PT Raised to $49.00 at BMO Capital Markets

L Brands, Inc. (NYSE:LB) had its price objective upped by investment analysts at BMO Capital Markets to $49.00 in a report released on Friday. The brokerage currently has a “market perform” rating on the specialty retailer’s stock. BMO Capital Markets’ price target would suggest a potential downside of 2.93% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) set a $59.00 price objective on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Oppenheimer Holdings, Inc. set a $55.00 price objective on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Deutsche Bank AG set a $56.00 price objective on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Buckingham Research reduced their price objective on L Brands from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Finally, Cowen and Company set a $40.00 price objective on L Brands and gave the company a “buy” rating in a research report on Friday, August 18th. Six research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $48.11.

L Brands (NYSE LB) opened at $50.48 on Friday. L Brands has a one year low of $35.00 and a one year high of $75.50. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of -6.25. The firm has a market capitalization of $14,328.55, a price-to-earnings ratio of 16.08, a PEG ratio of 1.39 and a beta of 0.67.

L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.57 billion. L Brands had a negative return on equity of 110.21% and a net margin of 7.73%. L Brands’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. research analysts expect that L Brands will post 3.13 EPS for the current fiscal year.

L Brands announced that its Board of Directors has initiated a share repurchase plan on Monday, September 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: This article was originally reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://transcriptdaily.com/2017/11/19/l-brands-inc-lb-pt-raised-to-49-00-at-bmo-capital-markets.html.

In related news, Director Allan R. Tessler acquired 20,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were acquired at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the transaction, the director now directly owns 43,342 shares in the company, valued at approximately $1,603,654. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 16.68% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of LB. Janus Henderson Group PLC raised its holdings in shares of L Brands by 4,925.7% in the second quarter. Janus Henderson Group PLC now owns 1,703,014 shares of the specialty retailer’s stock worth $91,776,000 after buying an additional 1,669,128 shares during the period. American Century Companies Inc. raised its holdings in shares of L Brands by 328.4% in the third quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock worth $51,615,000 after buying an additional 950,859 shares during the period. Flossbach Von Storch AG raised its holdings in shares of L Brands by 81.2% in the third quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock worth $85,468,000 after buying an additional 920,710 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of L Brands in the second quarter worth approximately $46,840,000. Finally, Scharf Investments LLC raised its holdings in shares of L Brands by 24.9% in the third quarter. Scharf Investments LLC now owns 3,875,215 shares of the specialty retailer’s stock worth $161,248,000 after buying an additional 772,740 shares during the period. Hedge funds and other institutional investors own 80.71% of the company’s stock.

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.

Analyst Recommendations for L Brands (NYSE:LB)

Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply