FBR & Co Reaffirms “Buy” Rating for L Brands, Inc. (LB)
L Brands, Inc. (NYSE:LB)‘s stock had its “buy” rating reissued by equities researchers at FBR & Co in a research report issued to clients and investors on Wednesday. They presently have a $58.00 price target on the specialty retailer’s stock. FBR & Co’s price objective indicates a potential upside of 35.77% from the company’s current price.
LB has been the topic of several other reports. Jefferies Group LLC set a $32.00 price objective on shares of L Brands and gave the company a “sell” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada reissued a “hold” rating and set a $55.00 price target on shares of L Brands in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) set a $59.00 price objective on L Brands and gave the company a “buy” rating in a research report on Thursday, August 17th. Instinet dropped their price objective on L Brands from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. Finally, Cowen and Company set a $40.00 target price on L Brands and gave the stock a “buy” rating in a research report on Friday, August 18th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the stock. L Brands has an average rating of “Hold” and a consensus target price of $46.71.
L Brands (LB) traded down 2.0831% during mid-day trading on Wednesday, hitting $41.8301. The company had a trading volume of 1,896,639 shares. The firm’s 50 day moving average is $38.64 and its 200 day moving average is $46.20. L Brands has a 52 week low of $35.00 and a 52 week high of $75.50. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of 12.2777 and a beta of 0.68.
L Brands (NYSE:LB) last posted its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.75 billion. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 earnings per share. On average, equities research analysts predict that L Brands will post $3.14 EPS for the current year.
L Brands announced that its board has authorized a stock repurchase program on Monday, September 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to buy up to 2.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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In related news, Director Allan R. Tessler purchased 20,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was acquired at an average price of $37.00 per share, with a total value of $740,000.00. Following the completion of the acquisition, the director now owns 43,342 shares in the company, valued at approximately $1,603,654. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 16.68% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in LB. Lord Abbett & CO. LLC increased its position in shares of L Brands by 17.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 400,200 shares of the specialty retailer’s stock valued at $21,567,000 after acquiring an additional 60,056 shares during the period. Rikoon Group LLC grew its stake in L Brands by 5.3% during the 2nd quarter. Rikoon Group LLC now owns 24,697 shares of the specialty retailer’s stock valued at $1,330,000 after purchasing an additional 1,250 shares during the last quarter. Advisory Services Network LLC grew its stake in L Brands by 5,618.0% during the 2nd quarter. Advisory Services Network LLC now owns 5,089 shares of the specialty retailer’s stock valued at $274,000 after purchasing an additional 5,000 shares during the last quarter. WINTON GROUP Ltd grew its stake in L Brands by 182.6% during the 2nd quarter. WINTON GROUP Ltd now owns 59,353 shares of the specialty retailer’s stock valued at $3,199,000 after purchasing an additional 38,349 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its stake in L Brands by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,981,735 shares of the specialty retailer’s stock valued at $106,796,000 after purchasing an additional 10,240 shares during the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.
About L Brands
L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.
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