L Brands Inc. (LB) Given Average Recommendation of “Hold” by Brokerages
L Brands Inc. (NYSE:LB) has received an average recommendation of “Hold” from the thirty-two ratings firms that are presently covering the stock. 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 on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $78.86.
Several brokerages recently weighed in on LB. Stifel Nicolaus restated a “buy” rating and set a $82.00 target price (up from $75.00) on shares of L Brands in a research note on Friday, August 5th. Citigroup Inc. boosted their target price on L Brands from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. FBR & Co reiterated 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 reiterated 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 reiterated 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.
In other news, insider Martin P. Waters sold 45,500 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the completion of the transaction, the insider now directly owns 13,970 shares in the company, valued at $1,082,535.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Charles Mcguigan sold 23,687 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is owned by corporate insiders.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its position in L Brands by 76.0% in the first quarter. Loomis Sayles & Co. L P now owns 1,716 shares of the company’s stock valued at $151,000 after buying an additional 741 shares in the last quarter. Financial Architects Inc raised its position in L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock valued at $117,000 after buying an additional 631 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in L Brands during the second quarter valued at approximately $123,000. Whittier Trust Co. of Nevada Inc. raised its position in 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 valued at $125,000 after buying an additional 572 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock valued at $138,000 after buying an additional 1,016 shares in the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.
L Brands (NYSE:LB) traded down 1.66% on Tuesday, hitting $70.57. The stock had a trading volume of 552,787 shares. L Brands has a 52-week low of $60.00 and a 52-week high of $101.11. The company has a 50 day moving average price of $73.34 and a 200-day moving average price of $73.02. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 17.20 and a beta of 0.91.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.11. The firm earned $2.89 billion during the quarter. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, equities research analysts predict that L Brands will post $3.83 earnings per share for the current year.
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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