Wells Fargo & Co set a $48.00 target price on L Brands (NYSE:LB) in a report published on Thursday. The firm currently has a hold rating on the specialty retailer’s stock.
LB has been the topic of several other reports. Scotiabank reiterated a hold rating and issued a $67.00 target price on shares of L Brands in a report on Wednesday, November 22nd. Sanford C. Bernstein reiterated an outperform rating and issued a $57.00 target price on shares of L Brands in a report on Monday, September 18th. FBR & Co reiterated a buy rating and issued a $58.00 target price on shares of L Brands in a report on Wednesday, October 4th. B. Riley set a $58.00 target price on shares of L Brands and gave the company a buy rating in a report on Thursday, November 16th. Finally, Barclays began coverage on shares of L Brands in a report on Tuesday, September 19th. They issued an equal weight rating and a $41.00 target price on the stock. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have given a buy rating to the company’s stock. L Brands presently has a consensus rating of Hold and an average price target of $51.80.
L Brands (NYSE LB) opened at $50.36 on Thursday. The firm has a market cap of $14,214.87, a PE ratio of 15.31, a P/E/G ratio of 1.39 and a beta of 0.80. L Brands has a 52-week low of $35.00 and a 52-week high of $63.10. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45.
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 analysts’ consensus estimates of $0.30. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. analysts anticipate that L Brands will post 3.13 EPS for the current fiscal year.
L Brands announced that its board has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In related news, Director David T. Kollat purchased 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 purchase, the director now owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.68% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC purchased a new stake in L Brands during the 3rd quarter worth approximately $161,000. IFP Advisors Inc increased its stake in L Brands by 52.1% during the 3rd 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 during the period. Chesapeake Asset Management LLC purchased a new stake in L Brands during the 3rd quarter worth approximately $205,000. Allianz Asset Management GmbH purchased a new stake in L Brands during the 3rd quarter worth approximately $206,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in L Brands during the 3rd quarter worth approximately $208,000. 78.68% of the stock is currently owned by hedge funds and other institutional investors.
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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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