L Brands, Inc. (LB) Given a $58.00 Price Target at FBR & Co
L Brands, Inc. (NYSE:LB) received a $58.00 price objective from research analysts at FBR & Co in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the specialty retailer’s stock. FBR & Co’s target price suggests a potential upside of 35.42% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $60.00 price objective on shares of L Brands in a research report on Tuesday, August 1st. Buckingham Research reduced their price objective on shares of L Brands from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Cowen and Company reaffirmed a “buy” rating and issued a $56.00 price objective on shares of L Brands in a research report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) set a $59.00 price objective on shares of L Brands and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Oppenheimer Holdings Inc. set a $55.00 price objective on shares of L Brands and gave the stock a “buy” rating in a research report on Thursday, August 17th. Seven investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have given a buy rating to the stock. L Brands currently has an average rating of “Hold” and an average price target of $46.41.
Shares of L Brands (NYSE LB) traded down 4.20% during midday trading on Monday, reaching $42.83. 6,092,591 shares of the company traded hands. L Brands has a 12-month low of $35.00 and a 12-month high of $75.50. The company has a 50-day moving average of $41.49 and a 200 day moving average of $45.64. The firm has a market capitalization of $12.16 billion, a PE ratio of 12.57 and a beta of 0.67.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 billion. During the same period in the prior year, the firm posted $0.70 EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, equities analysts forecast that L Brands will post $3.13 earnings per share for the current year.
L Brands declared that its Board of Directors has approved a share buyback program on Monday, September 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are often a sign 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 firm’s stock in a transaction dated Thursday, September 21st. The shares were purchased at an average price 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 $1,603,654. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.68% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its holdings in shares of L Brands by 52.1% during the 3rd quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock valued at $197,000 after purchasing an additional 1,618 shares during the last quarter. Westpac Banking Corp grew its holdings in shares of L Brands by 37.7% during the 3rd quarter. Westpac Banking Corp now owns 260,882 shares of the specialty retailer’s stock valued at $10,855,000 after purchasing an additional 71,454 shares during the last quarter. Conning Inc. grew its holdings in shares of L Brands by 62.5% during the 3rd quarter. Conning Inc. now owns 165,448 shares of the specialty retailer’s stock valued at $6,884,000 after purchasing an additional 63,655 shares during the last quarter. Intact Investment Management Inc. grew its holdings in shares of L Brands by 301.4% during the 3rd quarter. Intact Investment Management Inc. now owns 28,100 shares of the specialty retailer’s stock valued at $1,169,000 after purchasing an additional 21,100 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of L Brands during the 3rd quarter valued at $9,898,000. 79.66% of the stock is currently 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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