Loop Capital set a $23.00 price target on L Brands (NYSE:LB) in a research report sent to investors on Thursday, The Fly reports. The brokerage currently has a sell rating on the specialty retailer’s stock.
Several other equities analysts also recently commented on LB. Bank of America raised L Brands from an underperform rating to a neutral rating and upped their target price for the company from $26.00 to $33.00 in a research report on Tuesday, September 18th. Piper Jaffray Companies set a $28.00 price target on L Brands and gave the stock a hold rating in a research report on Thursday, September 20th. ValuEngine raised L Brands from a strong sell rating to a sell rating in a research report on Saturday, September 22nd. MKM Partners set a $31.00 price target on L Brands and gave the stock a hold rating in a research report on Friday, October 12th. Finally, Nomura increased their price target on L Brands from $30.00 to $32.00 and gave the stock a neutral rating in a research report on Friday, October 12th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have given a buy rating to the stock. L Brands currently has an average rating of Hold and a consensus target price of $37.99.
Shares of L Brands stock traded down $0.53 on Thursday, hitting $26.46. The stock had a trading volume of 4,385,805 shares, compared to its average volume of 5,781,762. L Brands has a twelve month low of $23.71 and a twelve month high of $53.39. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 0.96 and a beta of 0.65.
L Brands (NYSE:LB) last posted its earnings results on Monday, November 19th. The specialty retailer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. L Brands had a negative return on equity of 76.28% and a net margin of 5.81%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts predict that L Brands will post 2.68 EPS for the current year.
In other news, Director Raymond Zimmerman sold 6,385 shares of the stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $28.33, for a total value of $180,887.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.32% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in LB. The Manufacturers Life Insurance Company lifted its stake in shares of L Brands by 82.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,817,977 shares of the specialty retailer’s stock valued at $176,285,000 after acquiring an additional 2,624,182 shares during the last quarter. Bank of New York Mellon Corp raised its position in L Brands by 83.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,079,497 shares of the specialty retailer’s stock worth $153,908,000 after purchasing an additional 2,310,431 shares during the last quarter. Tyvor Capital LLC bought a new position in L Brands during the 3rd quarter worth $29,779,000. Makaira Partners LLC raised its position in L Brands by 33.3% during the 2nd quarter. Makaira Partners LLC now owns 3,364,372 shares of the specialty retailer’s stock worth $124,078,000 after purchasing an additional 840,790 shares during the last quarter. Finally, Radin Capital Partners Inc. bought a new position in L Brands during the 3rd quarter worth $11,090,000. Institutional investors own 71.78% 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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