L Brands’ (LB) Neutral Rating Reiterated at MKM Partners
L Brands Inc. (NYSE:LB)‘s stock had its “neutral” rating restated by equities researchers at MKM Partners in a research report issued to clients and investors on Wednesday. They currently have a $71.00 target price on the stock. MKM Partners’ price objective points to a potential upside of 0.64% from the company’s previous close.
LB has been the topic of several other research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $82.00 price objective (up previously from $75.00) on shares of L Brands in a report on Friday, August 5th. Citigroup Inc. raised their price target on L Brands from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. FBR & Co reissued a “market perform” rating and set a $75.00 price target on shares of L Brands in a report on Wednesday, August 31st. Morgan Stanley reissued a “buy” rating and set a $80.00 price target on shares of L Brands in a report on Tuesday, August 23rd. Finally, Nomura reissued a “neutral” rating and set a $60.00 price target (up previously from $58.00) on shares of L Brands in a report on Sunday, July 10th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $78.32.
Shares of L Brands (NYSE:LB) traded up 3.53% during trading on Wednesday, hitting $73.04. The stock had a trading volume of 1,517,135 shares. The stock has a market cap of $20.89 billion, a price-to-earnings ratio of 17.80 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’s 50-day moving average is $73.13 and its 200-day moving average is $73.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/l-brands-lb-neutral-rating-reiterated-at-mkm-partners.html
L Brands (NYSE:LB) last posted its earnings results on Wednesday, August 17th. The company reported $0.70 EPS for the quarter, beating the consensus estimate 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%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.68 EPS. On average, equities research analysts expect that L Brands will post $3.83 EPS for the current year.
In related news, COO Charles Mcguigan sold 23,687 shares of L Brands stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Martin P. Waters sold 45,500 shares of L Brands stock in a transaction 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 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. Corporate insiders own 16.45% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. 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 during 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 during the last quarter. Tower Research Capital LLC TRC acquired a new position in L Brands during the second quarter valued at $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 in the last quarter. 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 in the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.
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.
Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.