L Brands, Inc. (LB) Price Target Increased to $47.00 by Analysts at UBS AG
L Brands, Inc. (NYSE:LB) had its price target boosted by UBS AG from $40.00 to $47.00 in a research note published on Monday. The firm currently has a neutral rating on the specialty retailer’s stock.
LB has been the subject of a number of other reports. Jefferies Group LLC set a $30.00 price objective on shares of L Brands and gave the stock a sell rating in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. restated a buy rating on shares of L Brands in a research report on Thursday, October 5th. Robert W. Baird restated a hold rating and set a $44.00 price objective on shares of L Brands in a research report on Friday, September 1st. Buckingham Research reduced their price objective on shares of L Brands from $62.00 to $52.00 and set a buy rating for the company in a research report on Friday, August 4th. Finally, Wells Fargo & Company reaffirmed a market perform rating and set a $40.00 target price (down previously from $45.00) on shares of L Brands in a report on Wednesday, September 13th. Six research analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have assigned a buy rating to the company’s stock. L Brands currently has a consensus rating of Hold and a consensus target price of $46.75.
L Brands (LB) traded down $0.64 during trading hours on Monday, reaching $46.94. 3,522,669 shares of the company’s stock were exchanged, compared to its average volume of 4,310,000. The company has a debt-to-equity ratio of -6.25, a current ratio of 1.68 and a quick ratio of 1.05. The firm has a market capitalization of $13,490.00, a PE ratio of 14.33, a PEG ratio of 1.26 and a beta of 0.68. L Brands has a 52 week low of $35.00 and a 52 week high of $75.50.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. equities research analysts predict that L Brands will post 3.21 earnings per share for the current year.
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L Brands announced that its Board of Directors has initiated a stock buyback program on Monday, September 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the specialty retailer to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other L Brands news, Director Allan R. Tessler purchased 20,000 shares of L Brands stock in a transaction dated Thursday, September 21st. The shares were acquired at an average price of $37.00 per share, with a total value of $740,000.00. Following the completion of the transaction, the director now owns 43,342 shares of the company’s stock, valued at $1,603,654. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.68% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Aviva PLC lifted its position in shares of L Brands by 5.7% during the second quarter. Aviva PLC now owns 140,599 shares of the specialty retailer’s stock worth $7,578,000 after purchasing an additional 7,635 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of L Brands by 14.3% during the second quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock worth $5,142,000 after purchasing an additional 11,967 shares in the last quarter. Swiss National Bank raised its holdings in L Brands by 2.8% in the second quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock valued at $47,719,000 after acquiring an additional 24,300 shares in the last quarter. Bridgewater Associates LP raised its holdings in L Brands by 16.5% in the second quarter. Bridgewater Associates LP now owns 81,603 shares of the specialty retailer’s stock valued at $4,398,000 after acquiring an additional 11,570 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its holdings in L Brands by 18.1% in the second quarter. Coronation Fund Managers Ltd. now owns 965,759 shares of the specialty retailer’s stock valued at $52,045,000 after acquiring an additional 148,076 shares in the last quarter. 80.02% of the stock is currently owned by institutional investors and hedge funds.
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.
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