L Brands, Inc. (LB) Price Target Lowered to $52.00 at Buckingham Research
L Brands, Inc. (NYSE:LB) had its price target reduced by equities research analysts at Buckingham Research from $62.00 to $52.00 in a research report issued on Friday. The firm presently has a “buy” rating on the specialty retailer’s stock. Buckingham Research’s price objective points to a potential upside of 20.09% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on LB. UBS AG cut their target price on L Brands from $52.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday. FBR & Co reiterated an “outperform” rating and issued a $60.00 target price on shares of L Brands in a research note on Thursday, July 27th. BidaskClub cut L Brands from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Oppenheimer Holdings, Inc. set a $62.00 target price on L Brands and gave the company a “buy” rating in a research note on Saturday, April 8th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $55.00 target price on shares of L Brands in a research note on Monday, July 24th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $56.05.
Shares of L Brands (LB) traded up 4.09% during trading on Friday, reaching $43.30. 6,531,829 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $48.88 and a 200-day moving average price of $51.51. The stock has a market capitalization of $12.42 billion, a price-to-earnings ratio of 10.88 and a beta of 0.62. L Brands has a 52 week low of $41.92 and a 52 week high of $79.67.
L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.04. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.46 billion. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the business posted $0.59 earnings per share. Analysts predict that L Brands will post $3.24 earnings per share for the current year.
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In other L Brands news, CEO Nicholas Coe sold 39,839 shares of L Brands stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the transaction, the chief executive officer now owns 75,658 shares of the company’s stock, valued at approximately $3,698,163.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 16.45% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of L Brands by 3,863.4% in the first quarter. BlackRock Inc. now owns 19,000,928 shares of the specialty retailer’s stock valued at $894,945,000 after buying an additional 18,521,518 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of L Brands by 16.1% in the first quarter. Primecap Management Co. CA now owns 18,797,936 shares of the specialty retailer’s stock valued at $885,383,000 after buying an additional 2,600,605 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of L Brands by 1.2% in the first quarter. Vanguard Group Inc. now owns 15,939,639 shares of the specialty retailer’s stock valued at $750,756,000 after buying an additional 196,711 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of L Brands by 86.8% in the first quarter. Wellington Management Group LLP now owns 14,514,565 shares of the specialty retailer’s stock valued at $683,636,000 after buying an additional 6,745,624 shares in the last quarter. Finally, State Street Corp raised its stake in shares of L Brands by 2.4% in the first quarter. State Street Corp now owns 10,354,575 shares of the specialty retailer’s stock valued at $487,693,000 after buying an additional 245,162 shares in the last quarter. 75.55% 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, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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