L Brands (NYSE:LB) has been given a $56.00 target price by research analysts at BMO Capital Markets in a research note issued to investors on Tuesday. The firm currently has a “hold” rating on the specialty retailer’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 7.19% from the stock’s current price.
Several other equities research analysts also recently weighed in on LB. BidaskClub downgraded shares of L Brands from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded shares of L Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Jefferies Group set a $30.00 price objective on shares of L Brands and gave the company a “sell” rating in a research report on Monday, August 28th. FBR & Co reissued a “buy” rating and issued a $58.00 price objective on shares of L Brands in a research report on Thursday, August 31st. Finally, Robert W. Baird reissued a “hold” rating and issued a $44.00 price objective on shares of L Brands in a research report on Friday, September 1st. Six research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $50.22.
Shares of L Brands (LB) traded down $0.67 on Tuesday, reaching $60.34. 4,491,800 shares of the company traded hands, compared to its average volume of 4,249,362. L Brands has a 1 year low of $35.00 and a 1 year high of $70.20. The stock has a market cap of $17,221.00, a P/E ratio of 19.43, a P/E/G ratio of 1.69 and a beta of 0.81. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45.
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 news, Director David T. Kollat bought 9,910 shares of L Brands stock in a transaction dated Monday, November 20th. The stock was bought at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the purchase, the director now owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Allan R. Tessler bought 20,000 shares of L Brands stock in a transaction dated Thursday, September 21st. The stock was purchased at an average price of $37.00 per share, with a total value of $740,000.00. Following the purchase, the director now directly owns 43,342 shares in the company, valued at approximately $1,603,654. The disclosure for this purchase can be found here. 16.68% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Amica Retiree Medical Trust purchased a new position in shares of L Brands in the 3rd quarter valued at about $106,000. Loomis Sayles & Co. L P increased its holdings in shares of L Brands by 76.0% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,716 shares of the specialty retailer’s stock valued at $151,000 after purchasing an additional 741 shares in the last quarter. Financial Architects Inc increased its holdings in L Brands by 56.4% during the 2nd quarter. Financial Architects Inc now owns 1,749 shares of the specialty retailer’s stock valued at $117,000 after acquiring an additional 631 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in L Brands during the 2nd quarter valued at about $123,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in L Brands by 44.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the specialty retailer’s stock valued at $125,000 after acquiring an additional 572 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.
