L Brands (NYSE:LB) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has a $33.00 price target on the specialty retailer’s stock. Bank of America’s target price indicates a potential upside of 12.86% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Nomura decreased their target price on shares of L Brands from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, September 7th. Zacks Investment Research cut shares of L Brands from a “hold” rating to a “sell” rating in a research report on Friday, August 31st. Citigroup decreased their target price on shares of L Brands from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, August 24th. Telsey Advisory Group decreased their target price on shares of L Brands from $36.00 to $31.00 and set a “market perform” rating on the stock in a research report on Friday, August 24th. Finally, KeyCorp decreased their target price on shares of L Brands from $28.00 to $25.00 and set an “underweight” rating on the stock in a research report on Friday, August 24th. Five investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and ten have assigned a buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and a consensus price target of $37.79.

Shares of NYSE LB traded up $0.80 during mid-day trading on Tuesday, hitting $29.24. 50,680 shares of the company’s stock traded hands, compared to its average volume of 7,739,594. The company has a current ratio of 1.46, a quick ratio of 0.75 and a debt-to-equity ratio of -5.09. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 1.01 and a beta of 0.57. L Brands has a 1 year low of $25.89 and a 1 year high of $63.10.

L Brands (NYSE:LB) last announced its earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.92 billion. L Brands had a net margin of 6.87% and a negative return on equity of 84.14%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. equities analysts predict that L Brands will post 2.51 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new position in L Brands in the 2nd quarter worth about $104,000. Gradient Investments LLC bought a new position in L Brands in the 2nd quarter worth about $109,000. Private Capital Group LLC grew its stake in L Brands by 6,777.3% in the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock worth $111,000 after acquiring an additional 2,982 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in L Brands in the 1st quarter worth about $117,000. Finally, IBM Retirement Fund grew its stake in L Brands by 46.8% in the 1st quarter. IBM Retirement Fund now owns 5,279 shares of the specialty retailer’s stock worth $202,000 after acquiring an additional 1,684 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

L Brands Company Profile

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

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The Fly

Analyst Recommendations for L Brands (NYSE:LB)

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