L Brands Inc. (LB) Given Outperform Rating at Cowen and Company
L Brands Inc. (NYSE:LB)‘s stock had its “outperform” rating restated by analysts at Cowen and Company in a report issued on Saturday. They presently have a $83.00 target price on the stock. Cowen and Company’s price objective indicates a potential upside of 16.52% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the company. Oppenheimer Holdings Inc. set a $90.00 price target on L Brands and gave the stock a “buy” rating in a report on Thursday. Mizuho restated a “buy” rating and set a $85.00 price target on shares of L Brands in a report on Monday, September 26th. Jefferies Group reaffirmed a “hold” rating on shares of L Brands in a research report on Monday, September 12th. Wedbush reaffirmed a “neutral” rating and set a $65.00 target price on shares of L Brands in a research report on Sunday, September 4th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $90.00 target price on shares of L Brands in a research report on Saturday, September 3rd. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. L Brands presently has an average rating of “Hold” and an average price target of $77.95.
L Brands (NYSE:LB) opened at 71.23 on Friday. The company has a market capitalization of $20.37 billion, a PE ratio of 17.36 and a beta of 0.91. The firm’s 50-day moving average is $73.51 and its 200-day moving average is $73.30. L Brands has a 52-week low of $60.00 and a 52-week high of $101.11.
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L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.11. The firm 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 quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 earnings per share. On average, equities research analysts forecast that L Brands will post $3.83 EPS for the current year.
In related news, CEO Nicholas Coe sold 4,951 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available through this link. Also, insider Martin P. Waters sold 45,500 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total value of $3,525,795.00. Following the transaction, the insider now directly owns 13,970 shares in the company, valued at $1,082,535.30. The disclosure for this sale can be found here. Corporate insiders own 16.45% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services Inc boosted its position in shares of L Brands by 2.2% in the first quarter. Commonwealth Equity Services Inc now owns 8,428 shares of the company’s stock worth $740,000 after buying an additional 178 shares in the last quarter. Virginia Retirement System bought a new position in shares of L Brands during the first quarter worth approximately $351,000. Pacad Investment Ltd. bought a new position in shares of L Brands during the first quarter worth approximately $501,000. Prudential Financial Inc. boosted its position in shares of L Brands by 1.1% in the first quarter. Prudential Financial Inc. now owns 315,077 shares of the company’s stock worth $27,667,000 after buying an additional 3,360 shares during the period. Finally, Nikko Asset Management Americas Inc. bought a new position in shares of L Brands during the first quarter worth approximately $247,000. 75.60% of the stock is currently owned by institutional investors.
About L Brands
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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