L Brands (LB) Given New $41.00 Price Target at Telsey Advisory Group

L Brands (NYSE:LB) had its price target lowered by equities researchers at Telsey Advisory Group from $52.00 to $41.00 in a report issued on Friday, April 13th, MarketBeat reports. The brokerage currently has a “market perform” rating on the specialty retailer’s stock. Telsey Advisory Group’s price objective suggests a potential upside of 19.29% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Wolfe Research lifted their price target on L Brands from $48.00 to $53.00 and gave the stock a “peer perform” rating in a research note on Monday, February 12th. Cowen reaffirmed a “hold” rating and issued a $49.00 price target on shares of L Brands in a research note on Thursday, February 8th. Scotiabank reaffirmed a “hold” rating and issued a $59.00 price target on shares of L Brands in a research note on Wednesday, January 17th. Robert W. Baird set a $60.00 price target on L Brands and gave the stock a “hold” rating in a research note on Thursday, December 28th. Finally, MKM Partners set a $56.00 price objective on L Brands and gave the stock a “hold” rating in a research report on Friday, January 5th. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.37.

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Shares of NYSE LB traded down $1.58 during trading hours on Friday, reaching $34.37. 5,342,590 shares of the stock traded hands, compared to its average volume of 4,282,148. The stock has a market cap of $10,147.44, a price-to-earnings ratio of 10.74, a P/E/G ratio of 0.99 and a beta of 0.78. The company has a current ratio of 1.62, a quick ratio of 1.01 and a debt-to-equity ratio of -7.60. L Brands has a 52-week low of $34.20 and a 52-week high of $63.10.

L Brands (NYSE:LB) last announced its quarterly earnings data on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.06. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.72 billion. L Brands had a negative return on equity of 101.69% and a net margin of 7.78%. L Brands’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $2.03 EPS. analysts forecast that L Brands will post 3.16 EPS for the current fiscal year.

L Brands declared that its Board of Directors has initiated a share buyback plan on Thursday, March 8th that authorizes the company to buyback $226.90 million in shares. This buyback authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

In other L Brands news, CFO Stuart B. Burgdoerfer sold 17,000 shares of L Brands stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $39.56, for a total transaction of $672,520.00. Following the completion of the transaction, the chief financial officer now owns 52,640 shares in the company, valued at $2,082,438.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stuart B. Burgdoerfer sold 33,000 shares of L Brands stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $42.53, for a total value of $1,403,490.00. Following the transaction, the chief financial officer now owns 69,640 shares of the company’s stock, valued at approximately $2,961,789.20. The disclosure for this sale can be found here. 17.32% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of LB. American International Group Inc. increased its position in L Brands by 74.8% during the fourth quarter. American International Group Inc. now owns 10,436,938 shares of the specialty retailer’s stock valued at $628,512,000 after acquiring an additional 4,466,237 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in L Brands during the fourth quarter valued at $120,549,000. Victory Capital Management Inc. increased its position in L Brands by 1,045.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,091,745 shares of the specialty retailer’s stock valued at $65,745,000 after acquiring an additional 996,468 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in L Brands by 29.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock valued at $172,952,000 after acquiring an additional 935,259 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in L Brands during the fourth quarter valued at $50,451,000. Hedge funds and other institutional investors own 81.11% of the company’s stock.

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L Brands Company Profile

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include loungewear, bras, panties, swimwear, athletic attire, fragrances, shower gels and lotions, aromatherapy, soaps and sanitizers, home fragrances, handbags, jewelry, and personal care accessories.

Analyst Recommendations for L Brands (NYSE:LB)

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