L Brands (LB) Stock Rating Reaffirmed by Morgan Stanley
L Brands (NYSE:LB)‘s stock had its “overweight” rating reissued by equities research analysts at Morgan Stanley in a report issued on Thursday. They currently have a $70.00 price objective on the specialty retailer’s stock. Morgan Stanley’s price objective indicates a potential upside of 20.46% from the stock’s current price.
A number of other research analysts have also recently weighed in on the stock. CIBC reaffirmed a “hold” rating and set a $60.00 price target on shares of L Brands in a research report on Friday, December 8th. Telsey Advisory Group lifted their price target on shares of L Brands from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, December 4th. Robert W. Baird set a $52.00 price target on shares of L Brands and gave the company a “hold” rating in a research report on Friday, December 1st. B. Riley reaffirmed a “buy” rating and set a $58.00 price target on shares of L Brands in a research report on Wednesday, November 29th. Finally, Scotiabank reaffirmed a “hold” rating and set a $67.00 price target on shares of L Brands in a research report on Wednesday, November 22nd. Six research 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 has an average rating of “Hold” and a consensus price target of $50.01.
Shares of L Brands (LB) opened at $58.11 on Thursday. L Brands has a twelve month low of $35.00 and a twelve month high of $71.61. The stock has a market cap of $16,532.27, a P/E ratio of 18.65, a P/E/G ratio of 1.62 and a beta of 0.81. The company has a debt-to-equity ratio of -5.10, a current ratio of 1.45 and a quick ratio of 0.60.
L Brands (NYSE:LB) last released its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.57 billion. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. L Brands’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. equities analysts anticipate that L Brands will post 3.14 EPS for the current year.
L Brands declared that its board has approved a share repurchase program on Monday, September 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, Director Allan R. Tessler purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was acquired at an average price of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the purchase, the director now owns 43,342 shares in the company, valued at $1,603,654. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David T. Kollat purchased 9,910 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of $50.34 per share, with a total value of $498,869.40. Following the purchase, the director now owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The disclosure for this purchase can be found here. Insiders own 16.68% of the company’s stock.
Several large investors have recently modified their holdings of LB. Strs Ohio increased its stake in shares of L Brands by 5.7% in the second quarter. Strs Ohio now owns 14,045 shares of the specialty retailer’s stock worth $756,000 after buying an additional 753 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in L Brands by 47.4% during the second quarter. Janney Montgomery Scott LLC now owns 8,788 shares of the specialty retailer’s stock valued at $474,000 after purchasing an additional 2,828 shares during the last quarter. Retirement Systems of Alabama increased its stake in L Brands by 0.6% during the second quarter. Retirement Systems of Alabama now owns 116,825 shares of the specialty retailer’s stock valued at $6,296,000 after purchasing an additional 715 shares during the last quarter. Global X Management Co. LLC increased its stake in L Brands by 41.3% during the second quarter. Global X Management Co. LLC now owns 6,989 shares of the specialty retailer’s stock valued at $377,000 after purchasing an additional 2,044 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in L Brands by 6.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 844,693 shares of the specialty retailer’s stock valued at $45,521,000 after purchasing an additional 52,731 shares during the last quarter. Institutional investors and hedge funds own 78.95% 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.
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