L Brands (LB) Stock Rating Reaffirmed by Morgan Stanley
L Brands (NYSE:LB)‘s stock had its “overweight” rating reissued by equities researchers at Morgan Stanley in a research report issued to clients and investors on Thursday. They currently have a $70.00 price target on the specialty retailer’s stock. Morgan Stanley’s price objective would suggest a potential upside of 19.01% from the company’s current price.
Several other equities research analysts have also commented on the stock. CIBC restated a “hold” rating and issued a $60.00 price target on shares of L Brands in a research note on Friday, December 8th. Telsey Advisory Group raised their price target on shares of L Brands from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, December 4th. Robert W. Baird set a $52.00 price target on shares of L Brands and gave the company a “hold” rating in a research note on Friday, December 1st. B. Riley restated a “buy” rating and issued a $58.00 price target on shares of L Brands in a research note on Wednesday, November 29th. Finally, Scotiabank restated a “hold” rating and issued a $67.00 price target on shares of L Brands in a research note on Wednesday, November 22nd. Six investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eleven have assigned a buy rating to the stock. L Brands presently has an average rating of “Hold” and a consensus target price of $50.01.
Shares of L Brands (NYSE:LB) traded up $0.50 during midday trading on Thursday, reaching $58.82. 3,362,300 shares of the company’s stock were exchanged, compared to its average volume of 4,223,349. The company has a quick ratio of 0.60, a current ratio of 1.45 and a debt-to-equity ratio of -5.10. L Brands has a 1 year low of $35.00 and a 1 year high of $72.97. The company has a market capitalization of $16,461.71, a PE ratio of 18.57, a P/E/G ratio of 1.61 and a beta of 0.81.
L Brands declared that its board has initiated a stock buyback program on Monday, September 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other L Brands news, Director David T. Kollat purchased 9,910 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the transaction, the director now owns 158,878 shares in the company, valued at approximately $7,997,918.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allan R. Tessler purchased 20,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was acquired at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the transaction, the director now owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The disclosure for this purchase can be found here. Insiders own 16.68% of the company’s stock.
A number of institutional investors have recently bought and sold shares of LB. TrimTabs Asset Management bought a new position in shares of L Brands during the 3rd quarter valued at $2,197,000. Janus Capital Management raised its holdings in shares of L Brands by 14.6% during the 3rd quarter. Janus Capital Management now owns 3,478,083 shares of the specialty retailer’s stock valued at $313,480,000 after purchasing an additional 443,083 shares in the last quarter. CIBC World Markets raised its holdings in shares of L Brands by 21.0% during the 4th quarter. CIBC World Markets now owns 48,129 shares of the specialty retailer’s stock valued at $4,612,000 after purchasing an additional 8,349 shares in the last quarter. Capstone Asset Management Company raised its holdings in shares of L Brands by 0.5% during the 4th quarter. Capstone Asset Management Company now owns 239,817 shares of the specialty retailer’s stock valued at $22,979,000 after purchasing an additional 1,285 shares in the last quarter. Finally, Fourth Swedish National Pension Fund raised its holdings in shares of L Brands by 0.8% during the 4th quarter. Fourth Swedish National Pension Fund now owns 49,032 shares of the specialty retailer’s stock valued at $4,698,000 after purchasing an additional 384 shares in the last quarter. 78.95% of the stock is owned by hedge funds and other institutional investors.
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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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