Equities research analysts at Credit Suisse Group assumed coverage on shares of L Brands (NYSE:LB) in a research report issued to clients and investors on Monday. The brokerage set a “neutral” rating and a $45.00 price target on the specialty retailer’s stock. Credit Suisse Group’s price target would indicate a potential upside of 6.76% from the company’s current price.
Several other equities analysts also recently issued reports on LB. Loop Capital assumed coverage on shares of L Brands in a research note on Thursday. They set a “hold” rating and a $45.00 price objective on the stock. Robert W. Baird reaffirmed a “buy” rating on shares of L Brands in a research note on Wednesday, March 7th. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of L Brands in a research note on Thursday, March 1st. Cowen set a $45.00 price target on shares of L Brands and gave the stock a “hold” rating in a research note on Thursday, March 1st. Finally, B. Riley reaffirmed a “buy” rating and set a $58.00 price target on shares of L Brands in a research note on Wednesday, November 29th. Six research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $50.33.
Shares of L Brands (NYSE:LB) traded down $0.11 on Monday, hitting $42.15. 3,904,067 shares of the company traded hands, compared to its average volume of 4,983,866. 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 capitalization of $11,930.00, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.16 and a beta of 0.59. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $63.10.
L Brands announced that its board has authorized a share buyback plan on Thursday, March 8th that permits the company to buyback $226.90 million in shares. This buyback authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in L Brands by 182.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock worth $128,000 after acquiring an additional 1,364 shares in the last quarter. Gradient Investments LLC acquired a new position in L Brands during the 4th quarter worth $153,000. Steward Partners Investment Advisory LLC acquired a new position in L Brands during the 3rd quarter worth $161,000. Sciencast Management LP acquired a new position in L Brands during the 4th quarter worth $202,000. Finally, Belpointe Asset Management LLC acquired a new position in L Brands during the 4th quarter worth $202,000. 81.05% of the stock is owned by institutional investors and hedge funds.
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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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