L Brands Inc. (LB) Given Consensus Rating of “Hold” by Brokerages
Shares of L Brands Inc. (NYSE:LB) have received a consensus recommendation of “Hold” from the thirty-two research firms that are currently covering the company. Two investment analysts have rated the stock with a sell recommendation, sixteen have issued a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $79.29.
A number of research analysts recently weighed in on the company. Wedbush reiterated a “neutral” rating and issued a $65.00 target price on shares of L Brands in a report on Sunday, September 4th. Oppenheimer Holdings Inc. reiterated a “market perform” rating and issued a $75.00 target price on shares of L Brands in a report on Tuesday, June 21st. Zacks Investment Research upgraded L Brands from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Monday, August 22nd. Mizuho lifted their target price on L Brands from $75.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 18th. Finally, Bank of America Corp. cut L Brands from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $74.00 to $57.00 in a report on Tuesday, June 28th.
In related news, COO Charles Mcguigan sold 23,687 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total transaction of $1,808,976.19. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Martin P. Waters sold 45,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total value of $3,525,795.00. Following the sale, the insider now directly owns 13,970 shares in the company, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. Corporate insiders own 16.45% of the company’s stock.
Large investors have recently made changes to their positions in the company. Financial Architects Inc boosted its stake in shares of L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock valued at $117,000 after buying an additional 631 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of L Brands during the second quarter valued at approximately $123,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock valued at $125,000 after buying an additional 572 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock valued at $138,000 after buying an additional 1,016 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of L Brands by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 2,226 shares of the company’s stock valued at $145,000 after buying an additional 124 shares during the last quarter. 75.60% of the stock is currently owned by hedge funds and other institutional investors.
L Brands (NYSE:LB) opened at 73.23 on Tuesday. L Brands has a 52-week low of $60.00 and a 52-week high of $101.11. The firm has a market capitalization of $20.94 billion, a PE ratio of 17.85 and a beta of 0.91. The stock’s 50 day moving average price is $72.75 and its 200 day moving average price is $72.90.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The business had revenue of $2.89 billion for the quarter. During the same quarter last year, the business earned $0.68 EPS. L Brands’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts expect that L Brands will post $3.83 earnings per share for the current year.
L Brands Company Profile
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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