L Brands (LB) Given Hold Rating at Citigroup
L Brands (NYSE:LB)‘s stock had its “hold” rating restated by equities researchers at Citigroup in a research note issued to investors on Friday. They presently have a $58.00 price target on the specialty retailer’s stock. Citigroup’s price objective would indicate a potential upside of 13.73% from the company’s current price.
LB has been the topic of several other reports. Scotiabank reiterated a “hold” rating and issued a $67.00 target price on shares of L Brands in a report on Wednesday, November 22nd. Sanford C. Bernstein reissued an “outperform” rating and issued a $57.00 price target on shares of L Brands in a research note on Monday, September 18th. FBR & Co reissued a “buy” rating and issued a $58.00 price target on shares of L Brands in a research note on Wednesday, October 4th. B. Riley set a $58.00 price target on shares of L Brands and gave the company a “buy” rating in a research note on Thursday, November 16th. Finally, Barclays started coverage on shares of L Brands in a research note on Tuesday, September 19th. They issued an “equal weight” rating and a $41.00 price target on the stock. Six analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the company. L Brands presently has a consensus rating of “Hold” and an average price target of $51.80.
L Brands (NYSE:LB) traded down $7.16 during trading hours on Friday, reaching $51.00. 21,160,000 shares of the company’s stock traded hands, compared to its average volume of 10,164,667. 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 cap of $14,200.00, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81. L Brands has a 12 month low of $35.00 and a 12 month high of $64.91.
L Brands announced that its Board of Directors has authorized a share buyback program on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the specialty retailer to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other L Brands news, Director David T. Kollat purchased 9,910 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $50.34 per share, for a total transaction of $498,869.40. Following 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 can be accessed through the SEC website. 16.68% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of L Brands by 4,925.7% in the 2nd quarter. Janus Henderson Group PLC now owns 1,703,014 shares of the specialty retailer’s stock valued at $91,776,000 after purchasing an additional 1,669,128 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of L Brands by 328.4% in the 3rd quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock valued at $51,615,000 after purchasing an additional 950,859 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of 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. Flossbach Von Storch AG increased its holdings in shares of L Brands by 81.2% in the 3rd quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock valued at $85,468,000 after purchasing an additional 920,710 shares in the last quarter. Finally, Scharf Investments LLC increased its holdings in shares of L Brands by 24.9% in the 3rd quarter. Scharf Investments LLC now owns 3,875,215 shares of the specialty retailer’s stock valued at $161,248,000 after purchasing an additional 772,740 shares in the last quarter. Institutional investors own 78.68% of the company’s stock.
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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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