L Brands (NYSE:LB)‘s stock had its “hold” rating reaffirmed by equities researchers at CIBC in a report issued on Friday. They presently have a $60.00 price objective on the specialty retailer’s stock. CIBC’s target price would suggest a potential upside of 4.75% from the stock’s previous close.

Several other research analysts have also commented on LB. Deutsche Bank set a $56.00 price objective on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Jefferies Group set a $32.00 price objective on L Brands and gave the company a “sell” rating in a research report on Thursday, August 17th. Goldman Sachs Group set a $59.00 price objective on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Instinet cut their price objective on L Brands from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 17th. Finally, Nomura set a $38.00 price objective on L Brands and gave the company a “hold” rating in a research report on Thursday, August 17th. Six equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and ten have issued a buy rating to the company’s stock. L Brands currently has a consensus rating of “Hold” and an average target price of $49.40.

Shares of L Brands (LB) traded up $2.18 on Friday, hitting $57.28. The company had a trading volume of 4,241,300 shares, compared to its average volume of 4,231,837. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10. The stock has a market cap of $16,168.15, a price-to-earnings ratio of 18.24, a P/E/G ratio of 1.59 and a beta of 0.81. L Brands has a twelve month low of $35.00 and a twelve month high of $75.42.

L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. L Brands had a negative return on equity of 101.19% and a net margin of 7.73%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the company posted $0.42 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. equities research analysts forecast that L Brands will post 3.14 EPS for the current year.

L Brands declared that its board has approved a share buyback program on Monday, September 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the specialty retailer to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

In related news, Director Allan R. Tessler bought 20,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was 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 in the company, valued at approximately $1,603,654. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David T. Kollat bought 9,910 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was bought at an average price of $50.34 per share, with a total value of $498,869.40. Following the completion of the purchase, the director now owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The disclosure for this purchase can be found here. 16.68% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of LB. Strs Ohio boosted its stake in L Brands by 5.7% in the second quarter. Strs Ohio now owns 14,045 shares of the specialty retailer’s stock valued at $756,000 after acquiring an additional 753 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of L Brands by 47.4% during the second quarter. Janney Montgomery Scott LLC now owns 8,788 shares of the specialty retailer’s stock valued at $474,000 after buying an additional 2,828 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in shares of L Brands by 6.7% during the second quarter. Candriam Luxembourg S.C.A. now owns 17,802 shares of the specialty retailer’s stock valued at $959,000 after buying an additional 1,118 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of L Brands by 0.6% during the second quarter. Retirement Systems of Alabama now owns 116,825 shares of the specialty retailer’s stock valued at $6,296,000 after buying an additional 715 shares during the last quarter. Finally, Global X Management Co. LLC raised its holdings in shares of L Brands by 41.3% during the second quarter. Global X Management Co. LLC now owns 6,989 shares of the specialty retailer’s stock valued at $377,000 after buying an additional 2,044 shares during the last quarter. Institutional investors own 78.95% of the company’s stock.

WARNING: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/11/l-brands-lb-stock-rating-reaffirmed-by-cibc.html.

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.

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.