L Brands (NYSE:LB)‘s stock had its “hold” rating reiterated by research analysts at CIBC in a research note issued on Friday. They currently have a $60.00 target price on the specialty retailer’s stock. CIBC’s price objective would indicate a potential upside of 4.75% from the stock’s current price.
LB has been the topic of a number of other research reports. Jefferies Group set a $30.00 price objective on shares of L Brands and gave the company a “sell” rating in a research report on Monday, August 28th. Oppenheimer restated a “buy” rating on shares of L Brands in a research report on Thursday, October 5th. B. Riley restated a “buy” rating and issued a $58.00 price objective on shares of L Brands in a research report on Wednesday, November 29th. Robert W. Baird restated a “hold” rating and issued a $44.00 price objective on shares of L Brands in a research report on Friday, September 1st. Finally, Citigroup boosted their price objective on shares of L Brands from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Six equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and ten have given a buy rating to the stock. L Brands has a consensus rating of “Hold” and a consensus price target of $49.40.
L Brands (LB) traded up $2.18 during trading on Friday, reaching $57.28. 4,241,300 shares of the company’s stock traded hands, compared to its average volume of 4,231,837. 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 $16,168.15, a P/E ratio of 18.24, a PEG ratio of 1.59 and a beta of 0.81. L Brands has a 1-year low of $35.00 and a 1-year high of $75.42.
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 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%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. analysts predict that L Brands will post 3.14 earnings per share for the current year.
L Brands announced that its board has approved a stock repurchase program on Monday, September 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In other L Brands news, Director Allan R. Tessler acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The shares were acquired at an average price of $37.00 per share, with a total value of $740,000.00. Following the completion of the purchase, the director now directly owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David T. Kollat acquired 9,910 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $50.34 per share, for a total transaction of $498,869.40. Following the purchase, the director now directly owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The disclosure for this purchase can be found here. Insiders own 16.68% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of LB. First Personal Financial Services lifted its stake in shares of L Brands by 127.7% in the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after buying an additional 1,096 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of L Brands in the third quarter worth approximately $161,000. IFP Advisors Inc lifted its stake in shares of L Brands by 52.1% in the third quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock worth $197,000 after buying an additional 1,618 shares in the last quarter. Chesapeake Asset Management LLC bought a new position in shares of L Brands in the third quarter worth approximately $205,000. Finally, Allianz Asset Management GmbH bought a new position in shares of L Brands in the third quarter worth approximately $206,000. Hedge funds and other institutional investors own 78.95% 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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