L Brands (LB) Lifted to “Buy” at Citigroup

Citigroup upgraded shares of L Brands (NYSE:LB) from a neutral rating to a buy rating in a research report report published on Monday morning, MarketBeat reports. The firm currently has $45.00 price objective on the specialty retailer’s stock. The analysts noted that the move was a valuation call.

Several other brokerages have also recently issued reports on LB. Telsey Advisory Group cut shares of L Brands from an outperform rating to a market perform rating and lowered their target price for the company from $70.00 to $52.00 in a report on Thursday, March 1st. Robert W. Baird restated a buy rating and issued a $55.00 target price on shares of L Brands in a report on Thursday, April 12th. ValuEngine cut shares of L Brands from a hold rating to a sell rating in a report on Saturday, April 7th. Wolfe Research upped their target price on shares of L Brands from $48.00 to $53.00 and gave the company a peer perform rating in a report on Monday, February 12th. Finally, BMO Capital Markets lowered their target price on shares of L Brands from $56.00 to $45.00 and set a market perform rating for the company in a report on Friday, March 2nd. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $46.47.

Shares of L Brands stock opened at $34.05 on Monday. L Brands has a 12-month low of $33.50 and a 12-month high of $34.51. The company has a quick ratio of 1.01, a current ratio of 1.62 and a debt-to-equity ratio of -7.60. The firm has a market capitalization of $9.40 billion, a PE ratio of 10.64, a P/E/G ratio of 0.96 and a beta of 0.77.

L Brands (NYSE:LB) last issued its earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.06. L Brands had a net margin of 7.78% and a negative return on equity of 101.69%. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the prior year, the business posted $2.03 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. research analysts expect that L Brands will post 3.03 earnings per share for the current year.

L Brands announced that its board has approved a stock buyback program on Thursday, March 8th that permits the company to repurchase $226.90 million in shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other news, CFO Stuart B. Burgdoerfer sold 17,000 shares of the stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $39.56, for a total value of $672,520.00. Following the completion of the transaction, the chief financial officer now owns 52,640 shares in the company, valued at approximately $2,082,438.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stuart B. Burgdoerfer sold 33,000 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $42.53, for a total transaction of $1,403,490.00. Following the completion of the transaction, the chief financial officer now owns 69,640 shares of the company’s stock, valued at approximately $2,961,789.20. The disclosure for this sale can be found here. 17.32% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in LB. Old Mutual Global Investors UK Ltd. purchased a new position in shares of L Brands in the 1st quarter valued at about $117,000. Tower Research Capital LLC TRC increased its holdings in shares of L Brands by 182.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after purchasing an additional 1,364 shares in the last quarter. Camarda Financial Advisors LLC purchased a new position in shares of L Brands in the 1st quarter valued at about $131,000. Gradient Investments LLC purchased a new position in shares of L Brands in the 4th quarter valued at about $153,000. Finally, Sciencast Management LP purchased a new position in shares of L Brands in the 4th quarter valued at about $202,000. Institutional investors and hedge funds own 81.88% of the company’s stock.

About L Brands

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

Analyst Recommendations for L Brands (NYSE:LB)

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