L Brands’ (LB) “Neutral” Rating Reaffirmed at MKM Partners
L Brands Inc. (NYSE:LB)‘s stock had its “neutral” rating reissued by analysts at MKM Partners in a report issued on Wednesday. They presently have a $71.00 target price on the stock. MKM Partners’ price objective would indicate a potential upside of 0.64% from the company’s current price.
Other analysts have also issued research reports about the stock. Wedbush reissued a “neutral” rating and issued a $65.00 price objective on shares of L Brands in a research report on Sunday, September 4th. Oppenheimer Holdings Inc. reissued a “market perform” rating and issued a $75.00 price objective on shares of L Brands in a research report on Tuesday, June 21st. Zacks Investment Research raised shares of L Brands from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Monday, August 22nd. Mizuho boosted their price objective on shares of L Brands from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Finally, Bank of America Corp. downgraded shares of L Brands from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $74.00 to $57.00 in a report on Tuesday, June 28th. Two equities 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 assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $78.32.
L Brands (NYSE:LB) traded up 2.78% on Wednesday, reaching $72.51. 917,396 shares of the company were exchanged. The stock has a 50 day moving average of $73.13 and a 200 day moving average of $73.00. The firm has a market capitalization of $20.74 billion, a PE ratio of 17.67 and a beta of 0.91. L Brands has a 12-month low of $60.00 and a 12-month high of $101.11.
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L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, topping the 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 had revenue of $2.89 billion for the quarter. During the same period in the previous year, the business earned $0.68 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Equities analysts anticipate that L Brands will post $3.83 EPS for the current year.
In other L Brands news, insider Martin P. Waters sold 45,500 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the completion of the sale, the insider now owns 13,970 shares of the company’s stock, valued at approximately $1,082,535.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Charles Mcguigan sold 23,687 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were 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. 16.45% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in L Brands by 0.7% in the second quarter. Vanguard Group Inc. now owns 15,408,113 shares of the company’s stock worth $1,034,346,000 after buying an additional 110,918 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt increased its stake in L Brands by 8.2% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 10,803,000 shares of the company’s stock worth $725,421,000 after buying an additional 815,000 shares in the last quarter. Jackson Square Partners LLC increased its stake in L Brands by 39.0% in the second quarter. Jackson Square Partners LLC now owns 7,415,981 shares of the company’s stock worth $497,834,000 after buying an additional 2,082,149 shares in the last quarter. American International Group Inc. increased its stake in L Brands by 5,516.4% in the second quarter. American International Group Inc. now owns 5,959,135 shares of the company’s stock worth $400,037,000 after buying an additional 5,853,032 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in L Brands by 12.8% in the second quarter. BlackRock Fund Advisors now owns 4,566,175 shares of the company’s stock worth $306,527,000 after buying an additional 518,739 shares in the last quarter. 75.60% of the stock is owned by institutional investors and hedge funds.
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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