Citigroup Inc. Boosts L Brands, Inc. (LB) Price Target to $45.00
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.
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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.
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