L Brands Inc. (LB) Given a $90.00 Price Target at Oppenheimer Holdings Inc.
LB has been the topic of several other research reports. Wedbush reaffirmed a neutral rating and issued a $65.00 price target on shares of L Brands in a research report on Sunday, September 4th. Zacks Investment Research raised shares of L Brands from a hold rating to a buy rating and set a $87.00 price target on the stock in a research report on Monday, August 22nd. Mizuho raised their price target on shares of L Brands from $75.00 to $85.00 and gave the company a buy rating in a research report on Thursday, August 18th. Bank of America Corp. cut shares of L Brands from a neutral rating to an underperform rating and dropped their price target for the company from $74.00 to $57.00 in a research report on Tuesday, June 28th. Finally, Robert W. Baird raised their price target on shares of L Brands from $74.00 to $80.00 and gave the company a neutral rating in a research report on Friday, August 19th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. L Brands currently has an average rating of Hold and a consensus target price of $77.52.
Shares of L Brands (NYSE:LB) traded up 0.44% during trading on Thursday, reaching $71.47. The company’s stock had a trading volume of 1,923,096 shares. L Brands has a 12 month low of $60.00 and a 12 month high of $101.11. The stock’s 50 day moving average price is $73.70 and its 200-day moving average price is $73.41. The firm has a market cap of $20.44 billion, a PE ratio of 17.42 and a beta of 0.91.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.11. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The business had revenue of $2.89 billion for the quarter. During the same period in the previous year, the business posted $0.68 EPS. L Brands’s revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that L Brands will post $3.83 EPS for the current year.
In related news, CEO Nicholas Coe sold 4,951 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $67.53, for a total transaction of $334,341.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Martin P. Waters sold 45,500 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the transaction, the insider now owns 13,970 shares in the company, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. Insiders own 16.45% of the company’s stock.
Several institutional investors have recently made changes to their positions in LB. Commonwealth Equity Services Inc boosted its position in shares of L Brands by 2.2% in the first quarter. Commonwealth Equity Services Inc now owns 8,428 shares of the company’s stock valued at $740,000 after buying an additional 178 shares in the last quarter. Virginia Retirement System bought a new position in shares of L Brands during the first quarter valued at about $351,000. IFP Advisors Inc boosted its position in shares of L Brands by 25.0% in the first quarter. IFP Advisors Inc now owns 2,963 shares of the company’s stock valued at $260,000 after buying an additional 592 shares in the last quarter. Pacad Investment Ltd. bought a new position in shares of L Brands during the first quarter valued at about $501,000. Finally, Prudential Financial Inc. boosted its position in shares of L Brands by 1.1% in the first quarter. Prudential Financial Inc. now owns 315,077 shares of the company’s stock valued at $27,667,000 after buying an additional 3,360 shares in the last quarter. Institutional investors own 75.60% of the company’s stock.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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