L Brands Inc. (LB) Stock Rating Reaffirmed by Mizuho
L Brands Inc. (NYSE:LB)‘s stock had its “buy” rating reaffirmed by investment analysts at Mizuho in a report released on Sunday. They currently have a $85.00 price objective on the stock. Mizuho’s target price suggests a potential upside of 19.33% from the stock’s current price.
Several other equities analysts have also recently commented on LB. Nomura reiterated a “hold” rating on shares of L Brands in a research note on Saturday, July 9th. Robert W. Baird set a $80.00 target price on shares of L Brands and gave the company a “neutral” rating in a research note on Friday, September 2nd. Deutsche Bank AG reiterated a “buy” rating on shares of L Brands in a research note on Sunday, July 10th. Stifel Nicolaus reiterated a “buy” rating and set a $90.00 target price on shares of L Brands in a research note on Saturday, September 3rd. Finally, MKM Partners reiterated a “neutral” rating and set a $60.00 target price on shares of L Brands in a research note on Friday, July 8th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. L Brands presently has an average rating of “Hold” and a consensus price target of $77.95.
L Brands (NYSE:LB) traded up 0.10% on Friday, reaching $71.23. 2,627,988 shares of the company’s stock were exchanged. L Brands has a 12 month low of $60.00 and a 12 month high of $101.11. The firm has a 50-day moving average of $73.51 and a 200-day moving average of $73.30. The firm has a market capitalization of $20.37 billion, a price-to-earnings ratio of 17.36 and a beta of 0.91.
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L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.11. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The business earned $2.89 billion during the quarter. During the same quarter in the previous year, the firm posted $0.68 earnings per share. L Brands’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts expect that L Brands will post $3.83 earnings per share for the current year.
In other news, CEO Nicholas Coe sold 4,951 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Also, COO Charles Mcguigan sold 23,687 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total transaction of $1,808,976.19. The disclosure for this sale can be found here. Company insiders own 16.45% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in shares of L Brands during the first quarter valued at $35,118,000. Wellington Management Group LLP boosted its position in shares of L Brands by 105.4% in the first quarter. Wellington Management Group LLP now owns 2,648,024 shares of the company’s stock valued at $232,522,000 after buying an additional 1,358,509 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of L Brands during the second quarter valued at $93,181,000. Panagora Asset Management Inc. boosted its position in shares of L Brands by 7.8% in the first quarter. Panagora Asset Management Inc. now owns 386,655 shares of the company’s stock valued at $33,952,000 after buying an additional 27,996 shares in the last quarter. Finally, Flossbach Von Storch AG boosted its position in shares of L Brands by 428.2% in the second quarter. Flossbach Von Storch AG now owns 1,686,624 shares of the company’s stock valued at $113,223,000 after buying an additional 1,367,300 shares in the last quarter. 75.60% of the stock is 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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