L Brands, Inc. (LB) Rating Reiterated by Oppenheimer Holdings, Inc.
L Brands, Inc. (NYSE:LB)‘s stock had its “buy” rating reiterated by analysts at Oppenheimer Holdings, Inc. in a research note issued on Thursday.
LB has been the subject of several other research reports. Vetr lowered shares of L Brands from a “sell” rating to a “strong sell” rating and set a $46.89 price target for the company. in a report on Monday, June 12th. Royal Bank Of Canada reissued a “hold” rating and issued a $55.00 price objective on shares of L Brands in a report on Monday, June 19th. FBR & Co set a $60.00 price objective on shares of L Brands and gave the company a “buy” rating in a report on Tuesday, June 27th. Cowen and Company reissued a “buy” rating and issued a $56.00 price objective on shares of L Brands in a report on Tuesday, July 4th. Finally, Jefferies Group LLC set a $35.00 target price on shares of L Brands and gave the company a “sell” rating in a research report on Tuesday, July 4th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $46.71.
Shares of L Brands (NYSE LB) traded up 3.46% on Thursday, reaching $42.79. The company had a trading volume of 8,725,647 shares. L Brands has a 12 month low of $35.00 and a 12 month high of $75.50. The company’s 50-day moving average is $38.80 and its 200 day moving average is $46.15. The firm has a market capitalization of $12.15 billion, a PE ratio of 12.56 and a beta of 0.68.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s revenue was down 4.7% compared to the same quarter last year. Equities analysts forecast that L Brands will post $3.14 earnings per share for the current year.
L Brands declared that its board has approved a stock buyback program on Monday, September 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other L Brands news, Director Allan R. Tessler purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was purchased at an average cost of $37.00 per share, with a total value of $740,000.00. Following the acquisition, the director now directly owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 16.68% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LB. UBS Asset Management Americas Inc. increased its stake in shares of L Brands by 9.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 620,660 shares of the specialty retailer’s stock valued at $29,233,000 after buying an additional 53,657 shares during the period. Stifel Financial Corp grew its stake in shares of L Brands by 45.8% during the first quarter. Stifel Financial Corp now owns 35,108 shares of the specialty retailer’s stock worth $1,649,000 after purchasing an additional 11,028 shares during the period. Victory Capital Management Inc. grew its stake in shares of L Brands by 61.4% during the first quarter. Victory Capital Management Inc. now owns 83,454 shares of the specialty retailer’s stock worth $3,931,000 after purchasing an additional 31,749 shares during the period. Neuberger Berman Group LLC grew its stake in shares of L Brands by 208.0% during the first quarter. Neuberger Berman Group LLC now owns 168,139 shares of the specialty retailer’s stock worth $7,919,000 after purchasing an additional 113,542 shares during the period. Finally, OppenheimerFunds Inc. grew its stake in shares of L Brands by 1,479.2% during the first quarter. OppenheimerFunds Inc. now owns 319,779 shares of the specialty retailer’s stock worth $15,062,000 after purchasing an additional 299,530 shares during the period. 79.48% of the stock is 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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