L Brands (NYSE:LB) has been given a $48.00 price objective by investment analysts at Wells Fargo & Co in a research note issued on Thursday. The firm currently has a “hold” rating on the specialty retailer’s stock. Wells Fargo & Co’s target price would indicate a potential downside of 5.88% from the stock’s previous close.
Other analysts have also recently issued reports about the company. Telsey Advisory Group raised their price target on L Brands from $64.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday. KeyCorp reiterated a “sell” rating and set a $32.00 target price on shares of L Brands in a research report on Tuesday, September 26th. B. Riley reiterated a “buy” rating and set a $58.00 target price on shares of L Brands in a research report on Wednesday, November 29th. Robert W. Baird set a $60.00 target price on L Brands and gave the stock a “hold” rating in a research report on Thursday, December 28th. Finally, UBS Group boosted their price target on L Brands from $40.00 to $47.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have given a buy rating to the stock. L Brands currently has an average rating of “Hold” and an average price target of $51.16.
Shares of L Brands (LB) traded down $7.16 during trading on Thursday, hitting $51.00. The company’s stock had a trading volume of 21,158,236 shares, compared to its average volume of 10,163,787. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $64.91. 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 firm has a market capitalization of $14,400.00, a PE ratio of 15.55, a P/E/G ratio of 1.66 and a beta of 0.81.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.57 billion. L Brands had a negative return on equity of 101.19% and a net margin of 7.73%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. equities analysts forecast that L Brands will post 3.14 EPS for the current fiscal year.
L Brands announced that its board has approved a share repurchase program on Monday, September 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the specialty retailer to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, Director David T. Kollat acquired 9,910 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $50.34 per share, for a total transaction of $498,869.40. Following the acquisition, the director now directly owns 158,878 shares in the company, valued at approximately $7,997,918.52. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 16.68% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in L Brands by 1.3% in the 2nd quarter. BlackRock Inc. now owns 19,257,392 shares of the specialty retailer’s stock valued at $1,037,783,000 after buying an additional 256,464 shares during the last quarter. Vanguard Group Inc. boosted its position in L Brands by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 16,435,626 shares of the specialty retailer’s stock valued at $885,716,000 after buying an additional 495,987 shares during the last quarter. FMR LLC boosted its position in L Brands by 2.8% in the 2nd quarter. FMR LLC now owns 11,403,917 shares of the specialty retailer’s stock valued at $614,558,000 after buying an additional 305,365 shares during the last quarter. State Street Corp lifted its position in shares of L Brands by 0.3% during the second quarter. State Street Corp now owns 10,388,390 shares of the specialty retailer’s stock worth $559,827,000 after purchasing an additional 33,815 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of L Brands by 29.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock worth $172,952,000 after purchasing an additional 935,259 shares during the last quarter. 78.68% of the stock is owned by hedge funds and other institutional investors.
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.