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.
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.
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.
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