Instinet Reiterates Neutral Rating for L Brands, Inc. (LB)
L Brands, Inc. (NYSE:LB)‘s stock had its “neutral” rating reiterated by Instinet in a research note issued on Sunday, July 9th. They currently have a $48.00 target price on the specialty retailer’s stock, down from their previous target price of $49.00. Instinet’s target price indicates a potential upside of 15.38% from the company’s current price.
Several other equities research analysts have also weighed in on the company. Nomura reissued a “hold” rating and set a $48.00 target price on shares of L Brands in a research report on Tuesday, April 11th. Oppenheimer Holdings, Inc. set a $62.00 target price on L Brands and gave the stock a “buy” rating in a research report on Saturday, April 8th. Jefferies Group LLC set a $35.00 price target on L Brands and gave the stock a “sell” rating in a research report on Thursday, May 4th. Cowen and Company reaffirmed a “buy” rating and set a $56.00 price target on shares of L Brands in a research report on Thursday, April 6th. Finally, Vetr downgraded L Brands from a “sell” rating to a “strong sell” rating and set a $46.89 target price on the stock. in a research note on Monday, June 12th. Five investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the company’s stock. L Brands presently has a consensus rating of “Hold” and a consensus price target of $56.49.
L Brands (LB) traded down 6.12% during midday trading on Friday, hitting $41.60. The stock had a trading volume of 11,868,742 shares. L Brands has a one year low of $41.28 and a one year high of $79.67. The company has a market cap of $11.93 billion, a P/E ratio of 10.45 and a beta of 0.62. The stock’s 50-day moving average is $48.88 and its 200-day moving average is $51.51.
L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, May 17th. The specialty retailer reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.46 billion. L Brands had a negative return on equity of 104.19% and a net margin of 8.87%. L Brands’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. Equities analysts predict that L Brands will post $3.23 EPS for the current fiscal year.
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In other news, CEO Nicholas Coe sold 39,839 shares of the firm’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $48.88, for a total transaction of $1,947,330.32. Following the completion of the sale, the chief executive officer now directly owns 75,658 shares of the company’s stock, valued at approximately $3,698,163.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 16.45% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. FNY Partners Fund LP bought a new position in L Brands during the first quarter valued at $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in L Brands during the first quarter valued at $142,000. IFP Advisors Inc raised its position in L Brands by 20.2% in the first quarter. IFP Advisors Inc now owns 3,152 shares of the specialty retailer’s stock valued at $148,000 after buying an additional 529 shares during the period. Prospera Financial Services Inc raised its position in L Brands by 23.1% in the first quarter. Prospera Financial Services Inc now owns 4,632 shares of the specialty retailer’s stock valued at $200,000 after buying an additional 868 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its position in L Brands by 11.2% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock valued at $200,000 after buying an additional 375 shares during the period. Institutional investors own 75.55% 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, 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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