L Brands (NYSE:LB) had its price target hoisted by Telsey Advisory Group from $60.00 to $64.00 in a research note published on Monday. They currently have an outperform rating on the specialty retailer’s stock.
A number of other equities analysts have also recently commented on the stock. Robert W. Baird set a $52.00 target price on shares of L Brands and gave the stock a hold rating in a research report on Friday, December 1st. B. Riley reiterated a buy rating and issued a $58.00 target price on shares of L Brands in a research report on Wednesday, November 29th. Scotiabank reiterated a hold rating and issued a $67.00 target price on shares of L Brands in a research report on Wednesday, November 22nd. Buckingham Research lifted their target price on shares of L Brands from $40.00 to $50.00 and gave the stock a neutral rating in a research report on Friday, November 17th. Finally, BMO Capital Markets boosted their price objective on shares of L Brands to $49.00 and gave the company a market perform rating in a research report on Friday, November 17th. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have given a buy rating to the stock. L Brands currently has a consensus rating of Hold and a consensus target price of $49.07.
Shares of L Brands (LB) opened at $55.10 on Monday. The stock has a market cap of $15,480.00, a price-to-earnings ratio of 17.61, a PEG ratio of 1.53 and a beta of 0.81. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $75.50. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of -5.10.
L Brands declared 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 reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Wednesday, November 22nd. L Brands’s dividend payout ratio is currently 73.17%.
In related news, Director Allan R. Tessler purchased 20,000 shares of L Brands stock in a transaction that occurred on Thursday, September 21st. The shares were bought at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the transaction, the director now directly owns 43,342 shares of the company’s stock, valued at $1,603,654. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David T. Kollat purchased 9,910 shares of L Brands stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the transaction, the director now directly owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The disclosure for this purchase can be found here. 16.68% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Aviva PLC boosted its stake in L Brands by 5.7% during the second quarter. Aviva PLC now owns 140,599 shares of the specialty retailer’s stock worth $7,578,000 after acquiring an additional 7,635 shares in the last quarter. Victory Capital Management Inc. boosted its stake in L Brands by 14.3% during the second quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock worth $5,142,000 after acquiring an additional 11,967 shares in the last quarter. Swiss National Bank boosted its stake in L Brands by 2.8% during the second quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock worth $47,719,000 after acquiring an additional 24,300 shares in the last quarter. Bridgewater Associates LP boosted its stake in L Brands by 16.5% during the second quarter. Bridgewater Associates LP now owns 81,603 shares of the specialty retailer’s stock worth $4,398,000 after acquiring an additional 11,570 shares in the last quarter. Finally, Pring Turner Capital Group Inc. bought a new stake in L Brands during the second quarter worth about $2,689,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: “L Brands (LB) PT Raised to $64.00 at Telsey Advisory Group” was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.com-unik.info/2017/12/08/l-brands-lb-pt-raised-to-64-00-at-telsey-advisory-group.html.
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.
What are top analysts saying about L Brands Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for L Brands Inc and related companies.