L Brands (NYSE:LB) received a $56.00 price target from equities researchers at MKM Partners in a report issued on Friday. The firm currently has a “hold” rating on the specialty retailer’s stock. MKM Partners’ price target would suggest a potential upside of 9.80% from the stock’s previous close.
Other research analysts have also issued reports about the company. Robert W. Baird reaffirmed a “hold” rating and set a $60.00 target price on shares of L Brands in a research report on Friday, December 22nd. BMO Capital Markets set a $56.00 target price on L Brands and gave the company a “hold” rating in a research report on Tuesday, December 19th. Telsey Advisory Group upped their target price on L Brands from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price target on shares of L Brands in a research note on Thursday, December 14th. Finally, CIBC reiterated a “hold” rating and set a $60.00 price target on shares of L Brands in a research note on Friday, December 8th. Six equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.80.
L Brands (NYSE:LB) traded down $7.16 on Friday, reaching $51.00. The company had a trading volume of 21,160,000 shares, compared to its average volume of 10,164,667. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10. The stock has a market cap of $14,450.00, a PE ratio of 15.55, a P/E/G ratio of 1.61 and a beta of 0.81. L Brands has a one year low of $35.00 and a one year high of $64.91.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.30. The business 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%. L Brands’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. sell-side analysts anticipate that L Brands will post 3.14 EPS for the current fiscal year.
L Brands declared that its board has initiated a share buyback plan on Monday, September 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other L Brands news, Director David T. Kollat purchased 9,910 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $50.34 per share, for a total transaction of $498,869.40. Following the completion of the purchase, the director now directly owns 158,878 shares in the company, valued at $7,997,918.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.68% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in L Brands by 29.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock valued at $172,952,000 after purchasing an additional 935,259 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of L Brands during the 3rd quarter worth approximately $161,000. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of L Brands by 14.9% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 11,600 shares of the specialty retailer’s stock worth $483,000 after acquiring an additional 1,500 shares in the last quarter. IFM Investors Pty Ltd purchased a new stake in shares of L Brands during the 3rd quarter worth approximately $283,000. Finally, First Heartland Consultants Inc. purchased a new stake in shares of L Brands during the 3rd quarter worth approximately $832,000. Institutional investors and hedge funds own 78.68% 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.