Other research analysts also recently issued research reports about the stock. Deutsche Bank AG reaffirmed a buy rating and issued a $60.00 target price on shares of L Brands in a research report on Tuesday, August 1st. Buckingham Research decreased their target price on shares of L Brands from $62.00 to $52.00 and set a buy rating for the company in a research report on Friday, August 4th. Cowen and Company reaffirmed a buy rating and issued a $56.00 target price on shares of L Brands in a research report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) set a $59.00 target price on shares of L Brands and gave the company a buy rating in a research report on Thursday, August 17th. Finally, Oppenheimer Holdings, Inc. set a $55.00 target price on shares of L Brands and gave the company a buy rating in a research report on Thursday, August 17th. Seven analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company. L Brands currently has an average rating of Hold and an average price target of $46.41.
L Brands (NYSE:LB) last released its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 billion. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share.
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L Brands announced that its Board of Directors has initiated a stock 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 repurchase up to 2.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, Director Allan R. Tessler purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were bought at an average cost of $37.00 per share, with a total value of $740,000.00. Following the acquisition, the director now owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.68% of the company’s stock.
Several institutional investors have recently made changes to their positions in LB. Teachers Advisors LLC grew its holdings in shares of L Brands by 5.5% during the 1st quarter. Teachers Advisors LLC now owns 314,940 shares of the specialty retailer’s stock valued at $14,834,000 after purchasing an additional 16,532 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of L Brands by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 476,306 shares of the specialty retailer’s stock valued at $22,435,000 after purchasing an additional 6,806 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of L Brands by 21.6% during the 1st quarter. AQR Capital Management LLC now owns 36,352 shares of the specialty retailer’s stock valued at $1,712,000 after purchasing an additional 6,449 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of L Brands during the 1st quarter valued at approximately $752,000. Finally, HighTower Advisors LLC grew its holdings in shares of L Brands by 30.0% during the 1st quarter. HighTower Advisors LLC now owns 13,922 shares of the specialty retailer’s stock valued at $655,000 after purchasing an additional 3,215 shares during the last quarter. 79.66% of the stock is currently owned by institutional investors.
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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