L Brands, Inc. (NYSE:LB) had its price objective lifted by research analysts at Citigroup Inc. from $40.00 to $45.00 in a research report issued on Friday. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. Citigroup Inc.’s target price points to a potential downside of 3.68% from the stock’s current price.

A number of other research firms have also recently weighed in on LB. Nomura raised their price target on shares of L Brands from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday. Wolfe Research lowered their price target on shares of L Brands from $52.00 to $48.00 and set a “peer perform” rating on the stock in a report on Friday, July 7th. BMO Capital Markets set a $52.00 price target on shares of L Brands and gave the company a “hold” rating in a report on Thursday, July 6th. Deutsche Bank AG restated a “buy” rating and issued a $60.00 price target on shares of L Brands in a report on Tuesday, August 1st. Finally, BidaskClub cut shares of L Brands from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Seven analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company. L Brands presently has a consensus rating of “Hold” and a consensus price target of $46.28.

Shares of L Brands (NYSE:LB) traded up $3.11 during trading on Friday, hitting $46.72. 5,643,074 shares of the company traded hands, compared to its average volume of 3,905,212. The company has a market cap of $13.37 billion, a P/E ratio of 14.45, a PEG ratio of 1.33 and a beta of 0.67. The company has a quick ratio of 1.05, a current ratio of 1.68 and a debt-to-equity ratio of -6.25.

L Brands (NYSE:LB) last posted its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 EPS. research analysts forecast that L Brands will post 3.09 EPS for the current fiscal year.

L Brands announced that its Board of Directors has initiated a share buyback program on Monday, September 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the specialty retailer to repurchase up to 2.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: “Citigroup Inc. Boosts L Brands, Inc. (LB) Price Target to $45.00” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/11/03/citigroup-inc-boosts-l-brands-inc-lb-price-target-to-45-00.html.

In other L Brands news, Director Allan R. Tessler purchased 20,000 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were bought at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the purchase, the director now directly owns 43,342 shares of the company’s stock, valued at $1,603,654. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.68% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. First Personal Financial Services increased its stake in shares of L Brands by 127.7% during the second quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after buying an additional 1,096 shares during the period. IFP Advisors Inc increased its stake in shares of L Brands by 52.1% during the third quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock worth $197,000 after buying an additional 1,618 shares during the period. Investors Asset Management of Georgia Inc. GA ADV increased its stake in shares of L Brands by 11.2% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after buying an additional 375 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of L Brands during the third quarter worth approximately $208,000. Finally, Summit Financial Strategies Inc. purchased a new stake in shares of L Brands during the second quarter worth approximately $214,000. Institutional investors own 79.66% 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.

Analyst Recommendations for L Brands (NYSE:LB)

Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.