L Brands (NYSE:LB) Hits New 1-Year High at $65.24


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L Brands, Inc. (NYSE:LB) hit a new 52-week high during trading on Thursday . The stock traded as high as $65.24 and last traded at $64.68, with a volume of 72712 shares trading hands. The stock had previously closed at $64.29.

Several research firms recently weighed in on LB. Wells Fargo & Company upped their price target on L Brands from $65.00 to $75.00 in a research report on Thursday, February 25th. Telsey Advisory Group upped their price target on L Brands from $54.00 to $65.00 and gave the company a “market perform” rating in a research report on Monday, March 15th. Royal Bank of Canada upped their price target on L Brands from $63.00 to $65.00 and gave the company a “sector perform” rating in a research report on Monday, March 29th. B. Riley upped their target price on L Brands from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, March 29th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on L Brands from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, March 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $59.68.

The company has a 50 day moving average price of $57.14 and a 200 day moving average price of $43.05. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of -82.42, a PEG ratio of 1.14 and a beta of 1.66.

L Brands (NYSE:LB) last released its earnings results on Tuesday, February 23rd. The specialty retailer reported $3.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.91 by $0.12. L Brands had a negative return on equity of 37.40% and a negative net margin of 1.77%. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.95 billion. During the same period last year, the firm earned $1.88 EPS. Analysts forecast that L Brands, Inc. will post 3.12 EPS for the current year.

In other L Brands news, CFO Stuart B. Burgdoerfer sold 75,848 shares of the business’s stock in a transaction that occurred on Friday, February 26th. The stock was sold at an average price of $54.56, for a total transaction of $4,138,266.88. Following the transaction, the chief financial officer now owns 101,490 shares of the company’s stock, valued at $5,537,294.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Leslie H. Wexner sold 3,050,000 shares of the business’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $58.31, for a total value of $177,845,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,137,127 shares of company stock worth $182,611,443. 17.83% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. River & Mercantile Asset Management LLP grew its position in shares of L Brands by 0.3% in the fourth quarter. River & Mercantile Asset Management LLP now owns 97,950 shares of the specialty retailer’s stock valued at $3,642,000 after purchasing an additional 300 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of L Brands by 5.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 7,160 shares of the specialty retailer’s stock valued at $267,000 after purchasing an additional 370 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of L Brands by 1.2% in the fourth quarter. IFP Advisors Inc now owns 34,508 shares of the specialty retailer’s stock valued at $1,288,000 after buying an additional 414 shares during the period. Everett Harris & Co. CA boosted its stake in shares of L Brands by 2.4% in the fourth quarter. Everett Harris & Co. CA now owns 18,394 shares of the specialty retailer’s stock valued at $684,000 after buying an additional 430 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of L Brands by 59.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,238 shares of the specialty retailer’s stock valued at $46,000 after buying an additional 461 shares during the period. 76.09% of the stock is currently owned by institutional investors.

About L Brands (NYSE:LB)

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

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