Oppenheimer Holdings, Inc. Reaffirms “Buy” Rating for L Brands, Inc. (LB)
L Brands, Inc. (NYSE:LB)‘s stock had its “buy” rating restated by stock analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Thursday.
LB has been the topic of several other research reports. Sanford C. Bernstein reissued an “outperform” rating and set a $57.00 target price on shares of L Brands in a research report on Monday, September 18th. Zacks Investment Research cut shares of L Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. FBR & Co reissued a “buy” rating and set a $58.00 target price on shares of L Brands in a research report on Wednesday. Vetr raised shares of L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 target price on the stock in a research report on Monday, June 19th. Finally, BMO Capital Markets set a $37.00 price target on shares of L Brands and gave the stock a “market perform” rating in a research note on Friday, August 18th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $46.71.
Shares of L Brands (NYSE:LB) traded up 3.46% during trading on Thursday, reaching $42.79. The company’s stock 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 firm has a market cap of $12.15 billion, a PE ratio of 12.56 and a beta of 0.68. The stock’s 50 day moving average price is $38.80 and its 200-day moving average price is $46.15.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the firm earned $0.70 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities analysts predict that L Brands will post $3.14 EPS for the current year.
L Brands announced that its board has initiated a share repurchase program on Monday, September 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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In related news, Director Allan R. Tessler acquired 20,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was bought at an average cost of $37.00 per share, with a total value of $740,000.00. Following the acquisition, the director now owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.68% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of L Brands by 1.3% during the 2nd quarter. BlackRock Inc. now owns 19,257,392 shares of the specialty retailer’s stock worth $1,037,783,000 after acquiring an additional 256,464 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of L Brands by 16.1% during the 1st quarter. Primecap Management Co. CA now owns 18,797,936 shares of the specialty retailer’s stock worth $885,383,000 after acquiring an additional 2,600,605 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of L Brands by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 16,435,626 shares of the specialty retailer’s stock worth $885,716,000 after acquiring an additional 495,987 shares during the last quarter. FMR LLC lifted its holdings in shares of L Brands by 2.8% during the 2nd quarter. FMR LLC now owns 11,403,917 shares of the specialty retailer’s stock worth $614,558,000 after acquiring an additional 305,365 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of L Brands by 0.3% during the 2nd quarter. State Street Corp now owns 10,388,390 shares of the specialty retailer’s stock worth $559,827,000 after acquiring an additional 33,815 shares during the last quarter. 79.48% of the stock is owned by institutional investors.
L Brands Company Profile
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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