L Brands (NYSE:LB) had its price target lifted by investment analysts at Telsey Advisory Group from $60.00 to $64.00 in a research note issued to investors on Monday, December 4th. The brokerage currently has an “outperform” rating on the specialty retailer’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 6.28% from the stock’s previous close.
A number of other analysts have also weighed in on the company. Robert W. Baird set a $52.00 target price on L Brands and gave the stock a “hold” rating in a report on Friday, December 1st. B. Riley restated a “buy” rating and set a $58.00 target price on shares of L Brands in a report on Wednesday, November 29th. Scotiabank restated a “hold” rating and set a $67.00 target price on shares of L Brands in a report on Wednesday, November 22nd. Buckingham Research upped their target price on L Brands from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, November 17th. Finally, BMO Capital Markets upped their target price on L Brands to $49.00 and gave the stock a “market perform” rating in a report on Friday, November 17th. Six investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $50.45.
Shares of L Brands (LB) opened at $60.22 on Monday. 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 firm has a market capitalization of $17,223.82, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.69 and a beta of 0.81. L Brands has a twelve month low of $35.00 and a twelve month high of $68.43.
L Brands declared that its board has initiated a stock repurchase plan on Monday, September 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans 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 the business’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $50.34 per share, with a total value of $498,869.40. Following the transaction, the director now directly owns 158,878 shares in the company, valued at $7,997,918.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 16.68% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LB. M&T Bank Corp grew its position in L Brands by 0.3% during the 2nd quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock worth $925,000 after purchasing an additional 53 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in L Brands by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock worth $965,000 after purchasing an additional 83 shares during the period. Financial Advisors Network Inc. grew its position in L Brands by 2.8% during the 2nd quarter. Financial Advisors Network Inc. now owns 4,879 shares of the specialty retailer’s stock worth $263,000 after purchasing an additional 134 shares during the period. Hedeker Wealth LLC grew its position in L Brands by 2.2% during the 2nd quarter. Hedeker Wealth LLC now owns 11,701 shares of the specialty retailer’s stock worth $630,000 after purchasing an additional 247 shares during the period. Finally, Thrivent Financial For Lutherans grew its position in L Brands by 3.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 9,154 shares of the specialty retailer’s stock worth $493,000 after purchasing an additional 310 shares during the period. 78.68% of the stock is currently 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.
