L Brands, Inc. (NYSE:LB) was upgraded by equities researchers at Royal Bank Of Canada to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $58.00 target price on the specialty retailer’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 18.08% from the stock’s current price.
Several other research firms have also recently weighed in on LB. B. Riley set a $58.00 price objective on L Brands and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research upgraded L Brands from a “sell” rating to a “hold” rating in a report on Monday, November 6th. UBS AG increased their price objective on L Brands from $40.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, November 6th. Nomura increased their price objective on L Brands from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, Citigroup Inc. increased their price objective on L Brands from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Six equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.49.
Shares of L Brands (LB) opened at $49.12 on Friday. The firm has a market capitalization of $13,982.28, a PE ratio of 15.69, a P/E/G ratio of 1.38 and a beta of 0.67. L Brands has a fifty-two week low of $35.00 and a fifty-two week high of $75.50. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of -6.25.
L Brands (NYSE:LB) last issued its earnings results on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.57 billion. L Brands had a negative return on equity of 110.21% and a net margin of 7.73%. L Brands’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. equities analysts predict that L Brands will post 3.11 earnings per share for the current fiscal year.
L Brands announced that its Board of Directors has approved 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 reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are typically 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 stock in a transaction that occurred on Thursday, September 21st. The shares were bought at an average cost of $37.00 per share, for a total transaction of $740,000.00. Following the completion of the transaction, the director now owns 43,342 shares of the company’s stock, valued at $1,603,654. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.68% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LB. Janus Henderson Group PLC lifted its position in L Brands by 4,925.7% during the second quarter. Janus Henderson Group PLC now owns 1,703,014 shares of the specialty retailer’s stock valued at $91,776,000 after purchasing an additional 1,669,128 shares in the last quarter. American Century Companies Inc. lifted its position in L Brands by 328.4% during the third quarter. American Century Companies Inc. now owns 1,240,439 shares of the specialty retailer’s stock valued at $51,615,000 after purchasing an additional 950,859 shares in the last quarter. Flossbach Von Storch AG lifted its position in L Brands by 81.2% during the third quarter. Flossbach Von Storch AG now owns 2,054,020 shares of the specialty retailer’s stock valued at $85,468,000 after purchasing an additional 920,710 shares in the last quarter. William Blair Investment Management LLC purchased a new position in L Brands during the second quarter valued at $46,840,000. Finally, Scharf Investments LLC lifted its position in L Brands by 24.9% during the third quarter. Scharf Investments LLC now owns 3,875,215 shares of the specialty retailer’s stock valued at $161,248,000 after purchasing an additional 772,740 shares in the last quarter. Institutional investors own 80.71% 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.
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