L Brands’ (LB) “Hold” Rating Reaffirmed at Robert W. Baird
Robert W. Baird reaffirmed their hold rating on shares of L Brands, Inc. (NYSE:LB) in a report published on Wednesday. Robert W. Baird currently has a $44.00 price target on the specialty retailer’s stock.
A number of other analysts have also recently issued reports on the company. Royal Bank Of Canada set a $40.00 price objective on L Brands and gave the stock a hold rating in a report on Monday. FBR & Co set a $58.00 price objective on L Brands and gave the stock a buy rating in a report on Monday. Jefferies Group LLC set a $30.00 price objective on L Brands and gave the stock a sell rating in a report on Sunday. Buckingham Research cut L Brands from a buy rating to a neutral rating and set a $43.00 price objective on the stock. in a report on Thursday, October 26th. Finally, Piper Jaffray Companies set a $42.00 price objective on L Brands and gave the stock a hold rating in a report on Wednesday, October 11th. Seven equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $46.41.
L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, August 16th. The specialty retailer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.75 billion. L Brands had a negative return on equity of 103.18% and a net margin of 8.04%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS.
COPYRIGHT VIOLATION NOTICE: This article was reported by Watch List News and is owned by of Watch List News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://www.watchlistnews.com/l-brands-lb-hold-rating-reaffirmed-at-robert-w-baird/1674309.html.
L Brands announced that its Board of Directors has authorized a stock repurchase plan on Monday, September 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the specialty retailer to purchase up to 2.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Allan R. Tessler bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was bought at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the acquisition, the director now directly owns 43,342 shares of the company’s stock, valued at approximately $1,603,654. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 16.68% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Personal Financial Services lifted its holdings in L Brands by 127.7% in the 2nd quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock worth $105,000 after buying an additional 1,096 shares during the period. IFP Advisors Inc lifted its holdings in L Brands by 52.1% in the 3rd quarter. IFP Advisors Inc now owns 4,725 shares of the specialty retailer’s stock worth $197,000 after buying an additional 1,618 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in L Brands by 11.2% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock worth $200,000 after buying an additional 375 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in L Brands in the 3rd quarter worth approximately $208,000. Finally, Summit Financial Strategies Inc. purchased a new stake in L Brands in the 2nd quarter worth approximately $214,000. Institutional investors and hedge funds own 79.66% of the company’s stock.
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.
Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.