Insider Selling: Jane L. Ramsey Sells 21,219 Shares of L Brands Stock (LB)
L Brands (NYSE:LB) EVP Jane L. Ramsey sold 21,219 shares of L Brands stock on the open market in a transaction dated Monday, June 30th. The stock was sold at an average price of $58.61, for a total value of $1,243,645.59. Following the completion of the sale, the executive vice president now directly owns 151,170 shares in the company, valued at approximately $8,860,074. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
LB has been the subject of a number of recent research reports. Analysts at Oppenheimer upgraded shares of L Brands from an “underperform” rating to a “market perform” rating in a research note on Monday, June 9th. They now have a $56.00 price target on the stock, up previously from $46.00. They noted that the move was a valuation call. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of L Brands in a research note on Thursday, June 5th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of L Brands in a research note on Friday, May 30th. They now have a $60.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $61.67.
Shares of L Brands (NYSE:LB) traded up 2.56% on Tuesday, hitting $60.16. 1,974,631 shares of the company’s stock traded hands. L Brands has a one year low of $48.77 and a one year high of $67.12. The stock’s 50-day moving average is $57.73 and its 200-day moving average is $56.69. The company has a market cap of $17.563 billion and a P/E ratio of 18.93.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.01. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company posted $0.48 earnings per share. L Brands’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that L Brands will post $3.16 EPS for the current fiscal year.
L Brands, Inc, formerly Limited Brands, Inc operates in the specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories.
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