Zacks Investment Research upgraded shares of L Brands (NYSE:LB) from a sell rating to a hold rating in a research note released on Friday morning, Zacks.com reports. They currently have $19.00 price target on the specialty retailer’s stock.

According to Zacks, “Shares of L Brands have slid and underperformed the industry in the past three months. The company has been grappling with sluggishness at the Victoria’s Secret brand stemming from stiff competition and consumers’ changing preferences. This is evident from second-quarter results, wherein earnings beat estimate, while net sales missed the same. Both the top and the bottom lines fell year over year. Nonetheless, solid performance at Bath & Body Works brand did provide some cushion. Also, L Brands retained fiscal 2019 earnings view. Management expects Bath & Body Works brand to experience another solid year and remains committed to improve Victoria’s Secret performance. Overall comps are likely to show improvement from the fourth quarter. However, gross margin is expected to contract both in the third quarter and fiscal 2019.”

Other equities research analysts also recently issued reports about the stock. Loop Capital cut their price target on shares of L Brands from $20.00 to $15.00 and set a sell rating for the company in a report on Thursday, August 22nd. ValuEngine raised shares of L Brands from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. B. Riley set a $30.00 price target on shares of L Brands and gave the company a buy rating in a report on Friday, August 23rd. Credit Suisse Group downgraded shares of L Brands from a neutral rating to an underperform rating and cut their price target for the company from $22.00 to $14.00 in a report on Friday, October 18th. Finally, Barclays started coverage on shares of L Brands in a report on Tuesday, November 12th. They issued an underweight rating and a $16.00 price target for the company. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $24.35.

LB stock traded down $0.20 during trading on Friday, hitting $17.87. The company had a trading volume of 5,455,479 shares, compared to its average volume of 5,045,863. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 6.34, a P/E/G ratio of 0.64 and a beta of 0.77. The business has a 50 day moving average of $17.74 and a 200 day moving average of $21.39. L Brands has a fifty-two week low of $15.82 and a fifty-two week high of $35.62.

L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 21st. The specialty retailer reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. L Brands had a net margin of 4.37% and a negative return on equity of 74.73%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, equities analysts predict that L Brands will post 2.38 EPS for the current fiscal year.

The business also recently disclosed a dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 21st. L Brands’s payout ratio is presently 42.55%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Mercantile Trust Co. acquired a new position in shares of L Brands in the 2nd quarter valued at about $32,000. Phocas Financial Corp. acquired a new position in shares of L Brands in the 2nd quarter valued at about $41,000. Strategic Blueprint LLC acquired a new position in shares of L Brands in the 3rd quarter valued at about $33,000. NuWave Investment Management LLC increased its holdings in shares of L Brands by 757.8% in the 3rd quarter. NuWave Investment Management LLC now owns 1,913 shares of the specialty retailer’s stock valued at $32,000 after purchasing an additional 1,690 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of L Brands by 827.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,469 shares of the specialty retailer’s stock valued at $87,000 after purchasing an additional 3,987 shares during the period. Hedge funds and other institutional investors own 68.12% of the company’s stock.

L Brands Company Profile

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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