Citigroup Lowers L Brands (NYSE:LB) to Neutral

Citigroup downgraded shares of L Brands (NYSE:LB) from a buy rating to a neutral rating in a report issued on Monday, 24/7 WallStreet reports. The firm currently has $27.00 price target on the specialty retailer’s stock, up from their prior price target of $26.50.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Gerdau from a sell rating to a hold rating in a research report on Monday, May 13th. Royal Bank of Canada reissued a buy rating on shares of PrairieSky Royalty in a research report on Friday, May 24th. UBS Group raised their price objective on shares of L Brands from $26.00 to $28.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. Loop Capital reduced their price objective on shares of L Brands to $20.00 and set a sell rating for the company in a research note on Wednesday, May 15th. Finally, Wells Fargo & Co lifted their price target on shares of Iovance Biotherapeutics from $23.00 to $32.00 and gave the stock an outperform rating in a research note on Thursday, May 23rd. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight 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 $31.33.

NYSE LB opened at $26.39 on Monday. L Brands has a 1 year low of $21.44 and a 1 year high of $38.00. The stock has a market cap of $7.27 billion, a PE ratio of 9.43, a PEG ratio of 1.00 and a beta of 0.68. The business has a 50 day moving average price of $24.59.

L Brands (NYSE:LB) last issued its quarterly earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 EPS for the quarter. L Brands had a net margin of 4.81% and a negative return on equity of 74.29%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities research analysts forecast that L Brands will post 2.4 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of LB. Empirical Finance LLC grew its holdings in L Brands by 1.1% during the second quarter. Empirical Finance LLC now owns 39,800 shares of the specialty retailer’s stock worth $1,039,000 after acquiring an additional 423 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its position in L Brands by 2.7% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 19,074 shares of the specialty retailer’s stock worth $526,000 after buying an additional 500 shares during the period. State Treasurer State of Michigan lifted its position in L Brands by 0.8% during the first quarter. State Treasurer State of Michigan now owns 65,844 shares of the specialty retailer’s stock worth $1,816,000 after buying an additional 500 shares during the period. Oregon Public Employees Retirement Fund lifted its position in L Brands by 2.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 24,259 shares of the specialty retailer’s stock worth $633,000 after buying an additional 542 shares during the period. Finally, Wealthfront Advisers LLC raised its holdings in shares of L Brands by 2.2% in the 1st quarter. Wealthfront Advisers LLC now owns 25,486 shares of the specialty retailer’s stock worth $703,000 after purchasing an additional 555 shares during the period. Institutional investors own 69.05% of the company’s stock.

About L Brands

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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Analyst Recommendations for L Brands (NYSE:LB)

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