L Brands (LB) Given a $49.00 Price Target by Piper Jaffray Companies Analysts
L Brands (NYSE:LB) has been given a $49.00 price target by research analysts at Piper Jaffray Companies in a note issued to investors on Wednesday. The firm currently has a “hold” rating on the specialty retailer’s stock. Piper Jaffray Companies’ price objective points to a potential downside of 2.02% from the company’s previous close.
Several other equities analysts have also recently issued reports on the stock. BMO Capital Markets set a $56.00 target price on shares of L Brands and gave the company a “hold” rating in a research note on Tuesday, December 19th. Sanford C. Bernstein assumed coverage on shares of L Brands in a research note on Tuesday, September 12th. They issued an “outperform” rating and a $57.00 price objective on the stock. Royal Bank of Canada upgraded shares of L Brands from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $40.00 to $58.00 in a research note on Friday, November 17th. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price objective on shares of L Brands in a research note on Thursday, December 14th. Finally, B. Riley set a $58.00 price objective on shares of L Brands and gave the stock a “buy” rating in a research note on Thursday, November 16th. Six analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $51.86.
L Brands (NYSE LB) opened at $50.01 on Wednesday. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45. The stock has a market cap of $14,120.00, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. L Brands has a one year low of $35.00 and a one year high of $63.10.
L Brands (NYSE:LB) last posted its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.57 billion. L Brands had a net margin of 7.73% and a negative return on equity of 101.19%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. equities research analysts forecast that L Brands will post 3.13 earnings per share for the current fiscal year.
L Brands announced that its board has initiated a stock buyback program on Monday, September 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
In other news, Director David T. Kollat bought 9,910 shares of L Brands stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average cost of $50.34 per share, with a total value of $498,869.40. Following the acquisition, the director now owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.68% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its holdings in L Brands by 4,925.7% during the 2nd quarter. Janus Henderson Group PLC now owns 1,703,014 shares of the specialty retailer’s stock valued at $91,776,000 after buying an additional 1,669,128 shares in the last quarter. American Century Companies Inc. grew its holdings in L Brands by 328.4% during the 3rd quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock valued at $51,615,000 after buying an additional 950,859 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in L Brands by 29.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,156,510 shares of the specialty retailer’s stock valued at $172,952,000 after buying an additional 935,259 shares in the last quarter. Flossbach Von Storch AG grew its holdings in L Brands by 81.2% during the 3rd quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock valued at $85,468,000 after buying an additional 920,710 shares in the last quarter. Finally, Scharf Investments LLC grew its holdings in L Brands by 24.9% during the 3rd quarter. Scharf Investments LLC now owns 3,875,215 shares of the specialty retailer’s stock valued at $161,248,000 after buying an additional 772,740 shares in the last quarter. 78.68% of the stock is owned by institutional investors.
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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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