L Brands Inc. (LB) Rating Reiterated by Cowen and Company
L Brands Inc. (NYSE:LB)‘s stock had its “outperform” rating reiterated by equities researchers at Cowen and Company in a report released on Saturday. They presently have a $83.00 price target on the stock. Cowen and Company’s target price indicates a potential upside of 16.52% from the stock’s current price.
LB has been the subject of several other reports. Argus restated a “hold” rating on shares of L Brands in a research report on Friday, August 26th. Mizuho restated a “buy” rating and set a $85.00 price objective on shares of L Brands in a research report on Monday, September 26th. Telsey Advisory Group lifted their price objective on L Brands from $88.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Vetr upgraded L Brands from a “sell” rating to a “hold” rating and set a $79.12 price objective for the company in a research report on Monday, August 22nd. Finally, Jefferies Group restated a “hold” rating on shares of L Brands in a research report on Monday, September 12th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. L Brands has an average rating of “Hold” and a consensus target price of $77.95.
L Brands (NYSE:LB) opened at 71.23 on Friday. L Brands has a 52-week low of $60.00 and a 52-week high of $101.11. The stock has a market capitalization of $20.37 billion, a price-to-earnings ratio of 17.36 and a beta of 0.91. The stock’s 50 day moving average price is $73.51 and its 200 day moving average price is $73.30.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The firm earned $2.89 billion during the quarter. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts forecast that L Brands will post $3.83 EPS for the current year.
In other L Brands news, CEO Nicholas Coe sold 4,951 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $67.53, for a total value of $334,341.03. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Martin P. Waters sold 45,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $77.49, for a total transaction of $3,525,795.00. Following the completion of the sale, the insider now owns 13,970 shares in the company, valued at approximately $1,082,535.30. The disclosure for this sale can be found here. Corporate insiders own 16.45% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. boosted its position in L Brands by 1.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 6,249 shares of the company’s stock valued at $378,000 after buying an additional 99 shares during the period. Allen Investment Management LLC boosted its position in L Brands by 1.0% in the first quarter. Allen Investment Management LLC now owns 11,494 shares of the company’s stock valued at $1,009,000 after buying an additional 109 shares during the period. Advantus Capital Management Inc boosted its position in L Brands by 0.4% in the second quarter. Advantus Capital Management Inc now owns 24,971 shares of the company’s stock valued at $1,676,000 after buying an additional 109 shares during the period. Boothbay Fund Management LLC boosted its position in L Brands by 4.5% in the first quarter. Boothbay Fund Management LLC now owns 2,694 shares of the company’s stock valued at $237,000 after buying an additional 117 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in L Brands by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 2,226 shares of the company’s stock valued at $145,000 after buying an additional 124 shares during the period. Institutional investors own 75.60% of the company’s stock.
L Brands Company Profile
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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