Piper Jaffray Companies Analysts Give L Brands, Inc. (LB) a $42.00 Price Target
L Brands, Inc. (NYSE:LB) received a $42.00 price target from analysts at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday. The firm presently has a “hold” rating on the specialty retailer’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 1.38% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on LB. Vetr upgraded L Brands from a “strong sell” rating to a “sell” rating and set a $46.34 target price on the stock in a research note on Monday, June 19th. 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, June 19th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of L Brands in a research note on Tuesday, June 20th. FBR & Co set a $60.00 target price on L Brands and gave the company a “buy” rating in a research note 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 note on Tuesday, July 4th. Seven research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $46.41.
Shares of L Brands (NYSE LB) traded down 1.00% during trading on Wednesday, reaching $41.43. 2,847,434 shares of the company’s stock traded hands. The company has a 50 day moving average of $39.61 and a 200-day moving average of $45.92. L Brands has a 1-year low of $35.00 and a 1-year high of $75.50. The company has a market capitalization of $11.76 billion, a price-to-earnings ratio of 12.16 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 analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.70 earnings per share. Equities analysts predict that L Brands will post $3.13 earnings per share for the current year.
L Brands announced that its Board of Directors has approved a share buyback program on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the specialty retailer to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other L Brands news, Director Allan R. Tessler acquired 20,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was purchased at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the transaction, the director now owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 16.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norway Savings Bank boosted its position in L Brands by 0.5% during the 2nd quarter. Norway Savings Bank now owns 10,345 shares of the specialty retailer’s stock worth $557,000 after acquiring an additional 50 shares during the period. M&T Bank Corp boosted its position in L Brands by 0.3% during the 2nd quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock worth $925,000 after acquiring an additional 53 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in L Brands by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock worth $965,000 after acquiring an additional 83 shares during the period. Louisiana State Employees Retirement System boosted its position in L Brands by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the specialty retailer’s stock worth $803,000 after acquiring an additional 100 shares during the period. Finally, Financial Advisors Network Inc. boosted its position in L Brands by 2.8% during the 2nd quarter. Financial Advisors Network Inc. now owns 4,879 shares of the specialty retailer’s stock worth $263,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 79.48% 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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