Oppenheimer Holdings Inc. Analysts Give L Brands Inc. (LB) a $90.00 Price Target
L Brands Inc. (NYSE:LB) has been given a $90.00 target price by investment analysts at Oppenheimer Holdings Inc. in a research report issued to clients and investors on Thursday. The brokerage currently has a a “buy” rating on the stock. Oppenheimer Holdings Inc.’s price objective suggests a potential upside of 26.35% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 price target (up previously from $75.00) on shares of L Brands in a research note on Friday, August 5th. Citigroup Inc. upped their price target on L Brands from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. FBR & Co reaffirmed a “market perform” rating and set a $75.00 price target on shares of L Brands in a research note on Wednesday, August 31st. Morgan Stanley reaffirmed a “buy” rating and set a $80.00 price target on shares of L Brands in a research note on Tuesday, August 23rd. Finally, Nomura reaffirmed a “neutral” rating and set a $60.00 price target (up previously from $58.00) on shares of L Brands in a research note on Sunday, July 10th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $77.52.
Shares of L Brands (NYSE:LB) traded up 0.10% during midday trading on Thursday, reaching $71.23. The company’s stock had a trading volume of 2,627,927 shares. The company has a market cap of $20.37 billion, a price-to-earnings ratio of 17.36 and a beta of 0.91. L Brands has a 12 month low of $60.00 and a 12 month high of $101.11. The stock has a 50-day moving average of $73.70 and a 200 day moving average of $73.41.
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L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The company had revenue of $2.89 billion for the quarter. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. L Brands’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. On average, analysts predict that L Brands will post $3.83 earnings per share for the current fiscal year.
In other news, CEO Nicholas Coe sold 4,951 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $67.53, for a total transaction of $334,341.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Martin P. Waters sold 45,500 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total value of $3,525,795.00. Following the transaction, the insider now owns 13,970 shares in the company, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. 16.45% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in LB. Loomis Sayles & Co. L P raised its position in shares of L Brands by 76.0% in the first quarter. Loomis Sayles & Co. L P now owns 1,716 shares of the company’s stock worth $151,000 after buying an additional 741 shares during the period. Financial Architects Inc raised its position in shares of L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock worth $117,000 after buying an additional 631 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of L Brands during the second quarter worth $123,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock worth $125,000 after buying an additional 572 shares during the period. Finally, Global X Management Co. LLC raised its position in shares of L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock worth $138,000 after buying an additional 1,016 shares during the period. Institutional investors own 75.60% of the company’s stock.
L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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