L Brands, Inc. (LB) Price Target Cut to $47.00 by Analysts at MKM Partners
L Brands, Inc. (NYSE:LB) had its price objective reduced by equities researchers at MKM Partners from $48.00 to $47.00 in a research note issued to investors on Friday. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. MKM Partners’ target price indicates a potential upside of 9.84% from the stock’s previous close.
A number of other equities research analysts have also recently commented on LB. Vetr cut shares of L Brands from a “sell” rating to a “strong sell” rating and set a $46.89 target price for the company. in a research report on Monday, June 12th. Royal Bank Of Canada reiterated a “hold” rating and issued a $55.00 target price on shares of L Brands in a research report on Monday, June 19th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of L Brands in a research report on Tuesday, June 20th. FBR & Co set a $60.00 target price on shares of L Brands and gave the company a “buy” rating in a research report on Tuesday, June 27th. Finally, Cowen and Company reiterated a “buy” rating and issued a $56.00 target price on shares of L Brands in a research report on Tuesday, July 4th. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.41.
Shares of L Brands (LB) traded up 0.93% during mid-day trading on Friday, reaching $43.19. 1,526,779 shares of the company’s stock were exchanged. L Brands has a 1-year low of $35.00 and a 1-year high of $75.50. The company’s 50 day moving average is $38.80 and its 200 day moving average is $46.15. The stock has a market capitalization of $12.26 billion, a PE ratio of 12.68 and a beta of 0.68. L Brands also was the target of some unusual options trading activity on Thursday. Traders purchased 19,923 put options on the stock. This is an increase of 801% compared to the average volume of 2,211 put options.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.75 billion. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The company’s revenue was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. Equities research analysts anticipate that L Brands will post $3.14 EPS for the current fiscal year.
L Brands announced that its Board of Directors has authorized a share repurchase plan on Monday, September 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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In related news, Director Allan R. Tessler purchased 20,000 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was acquired at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the transaction, the director now directly owns 43,342 shares in the company, valued at $1,603,654. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 16.68% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC boosted its stake in shares of L Brands by 17.7% in the second quarter. Lord Abbett & CO. LLC now owns 400,200 shares of the specialty retailer’s stock valued at $21,567,000 after purchasing an additional 60,056 shares during the period. Rikoon Group LLC boosted its stake in shares of L Brands by 5.3% in the second quarter. Rikoon Group LLC now owns 24,697 shares of the specialty retailer’s stock valued at $1,330,000 after purchasing an additional 1,250 shares during the period. Advisory Services Network LLC boosted its stake in shares of L Brands by 5,618.0% in the second quarter. Advisory Services Network LLC now owns 5,089 shares of the specialty retailer’s stock valued at $274,000 after purchasing an additional 5,000 shares during the period. WINTON GROUP Ltd boosted its stake in shares of L Brands by 182.6% in the second quarter. WINTON GROUP Ltd now owns 59,353 shares of the specialty retailer’s stock valued at $3,199,000 after purchasing an additional 38,349 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its stake in shares of L Brands by 0.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,981,735 shares of the specialty retailer’s stock valued at $106,796,000 after purchasing an additional 10,240 shares during the period. 79.48% of the stock is owned by institutional investors and hedge funds.
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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