L Brands, Inc. (LB) Receives “Buy” Rating from B. Riley
L Brands, Inc. (NYSE:LB)‘s stock had its “buy” rating reaffirmed by equities researchers at B. Riley in a research note issued on Thursday.
Several other analysts also recently weighed in on LB. BMO Capital Markets set a $44.00 price target on shares of L Brands and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Citigroup Inc boosted their price target on shares of L Brands from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday. Jefferies Group LLC set a $32.00 price target on shares of L Brands and gave the stock a “sell” rating in a research note on Thursday, August 17th. Nomura boosted their price target on shares of L Brands from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Instinet lowered their price target on shares of L Brands from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Seven equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $46.28.
L Brands (NYSE LB) traded down $0.45 during midday trading on Thursday, hitting $46.72. 5,640,000 shares of the stock were exchanged, compared to its average volume of 4,430,000. L Brands has a 52 week low of $35.00 and a 52 week high of $75.50. The company has a debt-to-equity ratio of -6.25, a current ratio of 1.68 and a quick ratio of 1.05. The company has a market cap of $13,260.00, a P/E ratio of 14.45, a P/E/G ratio of 1.33 and a beta of 0.68.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The business had revenue of $2.76 billion during 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 firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 earnings per share. sell-side analysts predict that L Brands will post 3.09 earnings per share for the current fiscal year.
L Brands announced that its board has approved a share buyback plan on Monday, September 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
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In other news, Director Allan R. Tessler purchased 20,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were purchased at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the acquisition, the director now directly owns 43,342 shares in the company, valued at approximately $1,603,654. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 16.68% of the company’s stock.
Several large investors have recently bought and sold shares of LB. First Personal Financial Services grew its holdings 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 valued at $105,000 after buying an additional 1,096 shares during the last quarter. IFP Advisors Inc grew its holdings 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 valued at $197,000 after buying an additional 1,618 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its holdings 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 valued at $200,000 after buying an additional 375 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of L Brands during the third quarter valued at approximately $208,000. Finally, Summit Financial Strategies Inc. purchased a new stake in shares of L Brands during the second quarter valued at approximately $214,000. Hedge funds and other institutional investors own 79.66% of the company’s stock.
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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