Citigroup Inc. Raises L Brands, Inc. (LB) Price Target to $45.00
L Brands, Inc. (NYSE:LB) had its price target increased by Citigroup Inc. from $40.00 to $45.00 in a report published on Friday morning. The brokerage currently has a neutral rating on the specialty retailer’s stock.
A number of other analysts also recently commented on the company. Nomura upped their price objective on L Brands from $35.00 to $38.00 and gave the stock a neutral rating in a report on Friday. Robert W. Baird restated a hold rating and set a $44.00 price objective on shares of L Brands in a report on Wednesday, November 1st. Royal Bank Of Canada set a $40.00 price objective on L Brands and gave the stock a hold rating in a report on Monday, October 30th. FBR & Co set a $58.00 price objective on L Brands and gave the stock a buy rating in a report on Monday, October 30th. Finally, Jefferies Group LLC set a $30.00 price objective on L Brands and gave the stock a sell rating in a report on Sunday, October 29th. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and ten have issued a buy rating to the company. L Brands presently has a consensus rating of Hold and an average price target of $46.28.
L Brands (NYSE:LB) traded up $1.36 during mid-day trading on Friday, hitting $48.08. The stock had a trading volume of 1,872,585 shares, compared to its average volume of 4,370,000. The firm has a market cap of $13,260.00, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 1.26 and a beta of 0.68. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of -6.25. L Brands has a 1-year low of $35.00 and a 1-year high of $75.50.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. equities analysts forecast that L Brands will post 3.21 earnings per share for the current year.
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L Brands announced that its board has authorized a share buyback plan on Monday, September 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other L Brands news, Director Allan R. Tessler purchased 20,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The shares were bought at an average price of $37.00 per share, with a total value of $740,000.00. Following the completion of the acquisition, the director now owns 43,342 shares in the company, valued at approximately $1,603,654. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 16.68% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norway Savings Bank raised its holdings in shares of L Brands by 0.5% during the second quarter. Norway Savings Bank now owns 10,345 shares of the specialty retailer’s stock valued at $557,000 after buying an additional 50 shares during the last quarter. M&T Bank Corp increased its stake in shares of L Brands by 0.3% during the second quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock valued at $925,000 after acquiring an additional 53 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of L Brands by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock valued at $965,000 after acquiring an additional 83 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of L Brands by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the specialty retailer’s stock valued at $803,000 after acquiring an additional 100 shares during the period. Finally, Financial Advisors Network Inc. increased its stake in shares of L Brands by 2.8% during the second quarter. Financial Advisors Network Inc. now owns 4,879 shares of the specialty retailer’s stock valued at $263,000 after acquiring an additional 134 shares during the period. 80.02% of the stock is currently owned by institutional investors.
About L Brands
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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