L Brands, Inc. (LB) PT Set at $56.00 by Deutsche Bank AG
L Brands, Inc. (NYSE:LB) received a $56.00 price target from investment analysts at Deutsche Bank AG in a research note issued on Thursday. The firm presently has a “buy” rating on the specialty retailer’s stock. Deutsche Bank AG’s price objective indicates a potential upside of 49.13% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the company. Jefferies Group LLC reiterated an “underperform” rating and issued a $32.00 target price on shares of L Brands in a report on Wednesday, August 9th. BMO Capital Markets set a $44.00 price objective on L Brands and gave the company a “hold” rating in a research note on Tuesday, August 8th. Buckingham Research reduced their price objective on L Brands from $62.00 to $52.00 and set a “buy” rating for the company in a research note on Friday, August 4th. UBS AG reduced their price objective on L Brands from $52.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Finally, BidaskClub cut L Brands from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the stock. L Brands currently has a consensus rating of “Hold” and an average price target of $53.41.
Shares of L Brands (NYSE:LB) traded down 5.06% during trading on Thursday, hitting $37.55. The company had a trading volume of 25,065,270 shares. The stock has a 50-day moving average of $44.94 and a 200 day moving average of $50.03. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 9.89 and a beta of 0.62. L Brands has a 12-month low of $35.00 and a 12-month high of $79.67. L Brands also was the target of unusually large options trading on Monday. Stock investors acquired 7,919 put options on the company. This represents an increase of 320% compared to the average daily volume of 1,885 put options.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 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 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. On average, analysts predict that L Brands will post $3.23 EPS for the current fiscal year.
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In other L Brands news, CEO Nicholas Coe sold 39,839 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $48.88, for a total value of $1,947,330.32. Following the sale, the chief executive officer now directly owns 75,658 shares in the company, valued at $3,698,163.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 16.45% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. First Personal Financial Services raised its stake in shares of L Brands by 127.7% in the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock valued at $105,000 after buying an additional 1,096 shares during the last quarter. FNY Partners Fund LP purchased a new stake in shares of L Brands during the first quarter valued at about $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of L Brands during the first quarter valued at about $142,000. IFP Advisors Inc raised its stake in shares of L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock valued at $148,000 after buying an additional 529 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of L Brands by 11.2% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock valued at $200,000 after buying an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 75.20% 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, 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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