L Brands, Inc. (NYSE:LB) had its target price hoisted by equities researchers at Nomura from $35.00 to $38.00 in a report released on Friday. The firm currently has a “neutral” rating on the specialty retailer’s stock. Nomura’s price objective points to a potential downside of 18.66% from the stock’s previous close.
A number of other research firms have also recently issued reports on LB. Jefferies Group LLC set a $32.00 price target on L Brands and gave the stock a “sell” rating in a report on Wednesday, July 19th. BidaskClub cut L Brands from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $55.00 price target on L Brands and gave the stock a “buy” rating in a report on Thursday, August 17th. Cowen and Company set a $40.00 price target on L Brands and gave the stock a “buy” rating in a report on Friday, August 18th. Finally, Robert W. Baird restated a “hold” rating and set a $44.00 price target on shares of L Brands in a report on Wednesday. Seven research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $46.28.
L Brands (LB) traded down $0.38 during trading hours on Friday, reaching $46.72. 5,642,570 shares of the company’s stock were exchanged, compared to its average volume of 3,905,212. The firm has a market cap of $13,261.29, a P/E ratio of 14.33, a PEG ratio of 1.32 and a beta of 0.67. The company has a debt-to-equity ratio of -6.25, a current ratio of 1.68 and a quick ratio of 1.05. L Brands has a twelve month low of $35.00 and a twelve month high of $75.50.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. research analysts expect that L Brands will post 3.21 EPS for the current fiscal year.
L Brands announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
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In other news, Director Allan R. Tessler acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was bought at an average price of $37.00 per share, with a total value of $740,000.00. Following the acquisition, the director now owns 43,342 shares in the company, valued at approximately $1,603,654. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.68% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in LB. Teachers Advisors LLC increased its holdings in L Brands by 5.5% in the 1st quarter. Teachers Advisors LLC now owns 314,940 shares of the specialty retailer’s stock worth $14,834,000 after acquiring an additional 16,532 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in L Brands by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 476,306 shares of the specialty retailer’s stock worth $22,435,000 after acquiring an additional 6,806 shares during the last quarter. AQR Capital Management LLC increased its holdings in L Brands by 21.6% in the 1st quarter. AQR Capital Management LLC now owns 36,352 shares of the specialty retailer’s stock worth $1,712,000 after acquiring an additional 6,449 shares during the last quarter. HighTower Advisors LLC increased its holdings in L Brands by 30.0% in the 1st quarter. HighTower Advisors LLC now owns 13,922 shares of the specialty retailer’s stock worth $655,000 after acquiring an additional 3,215 shares during the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in L Brands in the 1st quarter worth about $249,000. 79.66% of the stock is 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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