Piper Jaffray Companies set a $49.00 target price on L Brands (NYSE:LB) in a research report sent to investors on Wednesday morning. The firm currently has a hold rating on the specialty retailer’s stock.
Other research analysts also recently issued research reports about the company. Scotiabank reiterated a hold rating and set a $67.00 target price on shares of L Brands in a report on Wednesday, November 22nd. Telsey Advisory Group reiterated an outperform rating and set a $64.00 target price (up previously from $60.00) on shares of L Brands in a report on Tuesday, November 28th. Robert W. Baird set a $60.00 target price on L Brands and gave the stock a hold rating in a report on Thursday, December 28th. Barclays assumed coverage on L Brands in a report on Tuesday, September 19th. They set an equal weight rating and a $41.00 target price on the stock. Finally, Sanford C. Bernstein reiterated an outperform rating and set a $57.00 target price on shares of L Brands in a report on Monday, September 18th. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $51.86.
L Brands (NYSE LB) opened at $49.67 on Wednesday. L Brands has a twelve month low of $35.00 and a twelve month high of $63.10. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10. The firm has a market capitalization of $14,020.10, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.39 and a beta of 0.80.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. L Brands had a negative return on equity of 101.19% and a net margin of 7.73%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. sell-side analysts expect that L Brands will post 3.12 earnings per share for the current fiscal year.
L Brands declared that its board has initiated a stock repurchase plan on Monday, September 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other L Brands news, Director David T. Kollat acquired 9,910 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $50.34 per share, with a total value of $498,869.40. Following the transaction, the director now owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.68% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in LB. Steward Partners Investment Advisory LLC bought a new position in L Brands in the 3rd quarter valued at approximately $161,000. IFP Advisors Inc lifted its position in L Brands by 52.1% in the 3rd quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock valued at $197,000 after acquiring an additional 1,618 shares in the last quarter. Chesapeake Asset Management LLC bought a new position in L Brands in the 3rd quarter valued at approximately $205,000. Allianz Asset Management GmbH bought a new position in L Brands in the 3rd quarter valued at approximately $206,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in L Brands in the 3rd quarter valued at approximately $208,000. 78.68% 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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