L Brands (NYSE:LB) has been given a $24.00 price objective by investment analysts at Loop Capital in a report issued on Thursday. The firm presently has a “sell” rating on the specialty retailer’s stock. Loop Capital’s target price would suggest a potential downside of 34.25% from the company’s previous close.
A number of other research analysts have also issued reports on the company. Bank of America raised L Brands from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $26.00 to $33.00 in a report on Tuesday, September 18th. ValuEngine raised L Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, September 22nd. Zacks Investment Research lowered L Brands from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Guggenheim reaffirmed a “hold” rating on shares of L Brands in a report on Wednesday, August 22nd. Finally, Credit Suisse Group lowered their target price on L Brands from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, August 23rd. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and nine have assigned a buy rating to the stock. L Brands has an average rating of “Hold” and an average target price of $37.12.
Shares of NYSE LB traded down $0.46 during midday trading on Thursday, reaching $36.50. 6,577,714 shares of the company traded hands, compared to its average volume of 5,075,303. L Brands has a 52 week low of $25.89 and a 52 week high of $63.10. The stock has a market cap of $9.59 billion, a P/E ratio of 11.41, a P/E/G ratio of 1.21 and a beta of 0.33.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.92 billion. L Brands had a net margin of 6.87% and a negative return on equity of 84.14%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 earnings per share. Analysts expect that L Brands will post 2.52 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Piedmont Investment Advisors LLC acquired a new stake in L Brands during the 2nd quarter worth about $104,000. Gradient Investments LLC acquired a new stake in L Brands during the 2nd quarter worth about $109,000. Private Capital Group LLC boosted its position in L Brands by 6,777.3% during the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock worth $111,000 after acquiring an additional 2,982 shares during the period. USAdvisors Wealth Management LLC acquired a new stake in L Brands during the 3rd quarter worth about $208,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in L Brands during the 2nd quarter worth about $216,000. 73.47% of the stock is currently owned by hedge funds and other institutional investors.
About L Brands
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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