L Brands (NYSE:LB) has been given a $48.00 price objective by stock analysts at Wells Fargo & Co in a research report issued on Thursday. The firm presently has a “hold” rating on the specialty retailer’s stock. Wells Fargo & Co’s target price would indicate a potential downside of 5.88% from the stock’s current price.
Several other equities analysts have also recently issued reports on the company. Sanford C. Bernstein assumed coverage on L Brands in a research report on Tuesday, September 12th. They set an “outperform” rating and a $57.00 price target on the stock. BMO Capital Markets set a $56.00 price target on L Brands and gave the company a “hold” rating in a research report on Tuesday, December 19th. Royal Bank of Canada upgraded L Brands from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $58.00 in a research report on Friday, November 17th. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price target on shares of L Brands in a research report on Thursday, December 14th. Finally, B. Riley set a $58.00 price target on L Brands and gave the company a “buy” rating in a research report on Thursday, November 16th. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the company. L Brands has a consensus rating of “Hold” and a consensus price target of $51.16.
L Brands (NYSE LB) traded down $7.16 on Thursday, reaching $51.00. The company had a trading volume of 21,157,174 shares, compared to its average volume of 10,163,727. L Brands has a 12-month low of $35.00 and a 12-month high of $64.91. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10. The firm has a market cap of $14,520.00, a PE ratio of 15.55, a P/E/G ratio of 1.66 and a beta of 0.81.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. L Brands had a negative return on equity of 101.19% and a net margin of 7.73%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the firm earned $0.42 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. equities analysts predict that L Brands will post 3.14 EPS for the current fiscal year.
L Brands declared that its Board of Directors has initiated a share buyback program on Monday, September 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
In related news, Director David T. Kollat bought 9,910 shares of the firm’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 acquisition, the director now directly owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 16.68% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of L Brands in the third quarter worth $161,000. IFP Advisors Inc boosted its position in L Brands by 52.1% during the third quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock valued at $197,000 after purchasing an additional 1,618 shares during the last quarter. Chesapeake Asset Management LLC acquired a new stake in shares of L Brands in the third quarter worth about $205,000. Allianz Asset Management GmbH acquired a new stake in shares of L Brands in the third quarter worth about $206,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of L Brands in the third quarter worth about $208,000. 78.68% of the stock is owned by institutional investors and hedge funds.
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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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