L Brands (LB) Price Target Cut to $55.00
L Brands (NYSE:LB) had its price target trimmed by Morgan Stanley from $76.00 to $55.00 in a research report sent to investors on Friday. The firm currently has an overweight rating on the specialty retailer’s stock.
LB has been the topic of several other reports. Scotiabank reiterated a hold rating and set a $67.00 price objective on shares of L Brands in a report on Wednesday, November 22nd. B. Riley set a $58.00 price objective on shares of L Brands and gave the stock a buy rating in a report on Thursday, November 16th. Citigroup reiterated a hold rating and set a $58.00 price objective on shares of L Brands in a report on Friday, January 5th. Barclays increased their price objective on shares of L Brands from $44.00 to $49.00 and gave the stock an equal weight rating in a report on Thursday, January 25th. Finally, Bank of America set a $38.00 price objective on shares of L Brands and gave the stock a sell rating in a report on Thursday. Six investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have given a buy rating to the company’s stock. L Brands has an average rating of Hold and a consensus price target of $50.58.
Shares of L Brands (NYSE LB) traded up $0.86 during mid-day trading on Friday, hitting $43.35. 7,901,495 shares of the stock traded hands, compared to its average volume of 4,230,000. The stock has a market cap of $12,240.00, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.14 and a beta of 0.59. L Brands has a 1-year low of $35.00 and a 1-year high of $63.10. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.54%. The ex-dividend date is Thursday, February 22nd. L Brands’s dividend payout ratio (DPR) is 76.92%.
A number of large investors have recently modified their holdings of LB. Tower Research Capital LLC TRC grew its position in L Brands by 182.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after acquiring an additional 1,364 shares in the last quarter. Gradient Investments LLC acquired a new stake in shares of L Brands during the fourth quarter worth approximately $153,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of L Brands during the third quarter worth approximately $161,000. IFP Advisors Inc grew its position in shares of L Brands by 52.1% during the third 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 in the last quarter. Finally, Sciencast Management LP acquired a new stake in shares of L Brands during the fourth quarter worth approximately $202,000. 80.36% of the stock is owned by institutional investors.
L Brands Company Profile
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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