L Brands, Inc. (NYSE:LB) had its price target hoisted by equities researchers at Citigroup Inc. from $40.00 to $45.00 in a note issued to investors on Friday. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Citigroup Inc.’s price objective suggests a potential downside of 3.68% from the stock’s previous close.
A number of other analysts also recently issued reports on LB. BMO Capital Markets set a $44.00 price target on L Brands and gave the stock a “hold” rating in a report on Tuesday, August 8th. Jefferies Group LLC set a $32.00 price target on L Brands and gave the stock a “sell” rating in a report on Thursday, August 17th. Nomura lifted their price target on L Brands from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday. Instinet decreased their price target on L Brands from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. Finally, Buckingham Research set a $43.00 price target on L Brands and gave the stock a “buy” rating in a report on Friday, August 18th. Seven equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.28.
L Brands (NYSE LB) traded down $0.38 on Friday, reaching $46.72. The company had a trading volume of 5,642,570 shares, compared to its average volume of 3,905,212. L Brands has a 1 year low of $35.00 and a 1 year high of $75.50. The firm has a market cap of $13,261.29, a PE ratio of 14.33, a price-to-earnings-growth 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 (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. L Brands’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. equities research analysts anticipate that L Brands will post 3.21 EPS for the current year.
L Brands announced that its board has authorized a share repurchase program on Monday, September 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are generally 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 purchased 20,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were acquired at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the acquisition, the director now directly owns 43,342 shares in the company, valued at approximately $1,603,654. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 16.68% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its holdings in shares of L Brands by 64.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 198,625 shares of the specialty retailer’s stock worth $8,265,000 after acquiring an additional 77,810 shares during the period. HL Financial Services LLC acquired a new stake in shares of L Brands in the 3rd quarter worth approximately $973,000. Global X MANAGEMENT CO LLC grew its holdings in shares of L Brands by 26.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 8,832 shares of the specialty retailer’s stock worth $367,000 after acquiring an additional 1,843 shares during the period. Hennessy Advisors Inc. grew its holdings in shares of L Brands by 3.9% in the 3rd quarter. Hennessy Advisors Inc. now owns 34,500 shares of the specialty retailer’s stock worth $1,436,000 after acquiring an additional 1,300 shares during the period. Finally, Swiss National Bank grew its holdings in shares of L Brands by 0.6% in the 3rd quarter. Swiss National Bank now owns 890,589 shares of the specialty retailer’s stock worth $37,057,000 after acquiring an additional 5,100 shares during the period. Institutional investors and hedge funds own 79.66% of the company’s stock.
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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