L Brands Inc. (LB) PT Set at $90.00 by Oppenheimer Holdings Inc.
L Brands Inc. (NYSE:LB) has been given a $90.00 price objective by equities researchers at Oppenheimer Holdings Inc. in a note issued to investors on Thursday. The brokerage currently has a a “buy” rating on the stock. Oppenheimer Holdings Inc.’s price target suggests a potential upside of 26.35% from the stock’s current price.
A number of other research analysts also recently weighed in on LB. Argus reiterated a “hold” rating on shares of L Brands in a report on Friday, August 26th. Mizuho reiterated a “buy” rating and set a $85.00 target price on shares of L Brands in a report on Monday, September 26th. Telsey Advisory Group upped their target price on L Brands from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, August 19th. Vetr upgraded L Brands from a “sell” rating to a “hold” rating and set a $79.12 target price on the stock in a report on Monday, August 22nd. Finally, Jefferies Group reiterated a “hold” rating on shares of L Brands in a report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $77.95.
Shares of L Brands (NYSE:LB) opened at 71.23 on Thursday. L Brands has a 12 month low of $60.00 and a 12 month high of $101.11. The company’s 50 day moving average price is $73.51 and its 200-day moving average price is $73.30. The stock has a market capitalization of $20.37 billion, a P/E ratio of 17.36 and a beta of 0.91.
L Brands (NYSE:LB) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.89 billion for the quarter. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts predict that L Brands will post $3.83 earnings per share for the current year.
In related news, insider Martin P. Waters sold 45,500 shares of L Brands stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total value of $3,525,795.00. Following the completion of the transaction, the insider now owns 13,970 shares in the company, valued at $1,082,535.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of L Brands stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The disclosure for this sale can be found here. Insiders own 16.45% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LB. Credit Agricole S A raised its position in L Brands by 11.7% in the first quarter. Credit Agricole S A now owns 369,002 shares of the company’s stock valued at $32,402,000 after buying an additional 38,798 shares in the last quarter. Ropes Wealth Advisors LLC raised its position in L Brands by 936.3% in the first quarter. Ropes Wealth Advisors LLC now owns 5,285 shares of the company’s stock valued at $464,000 after buying an additional 4,775 shares in the last quarter. Menta Capital LLC bought a new position in L Brands during the first quarter valued at approximately $307,000. Palisade Capital Management LLC NJ raised its position in L Brands by 13.3% in the first quarter. Palisade Capital Management LLC NJ now owns 6,454 shares of the company’s stock valued at $567,000 after buying an additional 757 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in L Brands during the first quarter valued at approximately $1,886,000. Institutional investors own 75.60% of the company’s stock.
About L Brands
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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