L Brands (LB) Rating Reiterated by Scotiabank
Several other equities research analysts have also recently weighed in on LB. Barclays initiated coverage on shares of L Brands in a research report on Tuesday, September 19th. They issued an equal weight rating and a $41.00 price target for the company. Cowen cut shares of L Brands from an outperform rating to a market perform rating and lowered their price target for the stock from $40.00 to $39.00 in a research report on Wednesday, September 20th. Atlantic Securities raised shares of L Brands from a neutral rating to an overweight rating in a research report on Tuesday, September 26th. KeyCorp reaffirmed a sell rating and issued a $32.00 price target on shares of L Brands in a research report on Tuesday, September 26th. Finally, FBR & Co reaffirmed a buy rating and issued a $58.00 price target on shares of L Brands in a research report on Wednesday, October 4th. Six research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the company. L Brands presently has a consensus rating of Hold and an average price target of $51.63.
L Brands (NYSE LB) traded up $1.67 during trading on Wednesday, reaching $50.69. 3,410,000 shares of the company’s stock traded hands, compared to its average volume of 4,700,000. The stock has a market cap of $14,310.00, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.41 and a beta of 0.81. The company has a debt-to-equity ratio of -5.10, a quick ratio of 0.60 and a current ratio of 1.45. L Brands has a 12 month low of $35.00 and a 12 month high of $63.10.
In other news, Director David T. Kollat acquired 9,910 shares of L Brands stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $50.34 per share, for a total transaction of $498,869.40. Following the purchase, the director now directly owns 158,878 shares in the company, valued at approximately $7,997,918.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.68% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue increased its stake in L Brands by 43.7% during the 4th quarter. State of Alaska Department of Revenue now owns 34,100 shares of the specialty retailer’s stock valued at $2,051,000 after purchasing an additional 10,370 shares in the last quarter. BKD Wealth Advisors LLC increased its stake in L Brands by 12.3% during the 4th quarter. BKD Wealth Advisors LLC now owns 19,619 shares of the specialty retailer’s stock valued at $1,181,000 after purchasing an additional 2,154 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in L Brands by 5.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 953,657 shares of the specialty retailer’s stock valued at $57,430,000 after purchasing an additional 46,142 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in L Brands by 37.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,500 shares of the specialty retailer’s stock valued at $331,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in L Brands by 80.6% during the 4th quarter. Bank of Montreal Can now owns 174,641 shares of the specialty retailer’s stock valued at $10,517,000 after purchasing an additional 77,921 shares in the last quarter. Institutional investors and hedge funds own 78.82% of the company’s stock.
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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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