L Brands (NYSE:LB) Downgraded to “Neutral” at Citigroup

Citigroup lowered shares of L Brands (NYSE:LB) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, 24/7 WallStreet reports. The firm currently has $27.00 price target on the specialty retailer’s stock, up from their previous price target of $26.50.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Co raised their price target on Iovance Biotherapeutics from $23.00 to $32.00 and gave the company an outperform rating in a report on Thursday, May 23rd. Zacks Investment Research upgraded Gerdau from a sell rating to a hold rating in a report on Monday, May 13th. Bank of America set a $30.00 price target on L Brands and gave the company a hold rating in a report on Thursday, May 23rd. Odeon Capital Group assumed coverage on L Brands in a report on Friday, April 26th. They issued a buy rating on the stock. Finally, UBS Group raised their price target on L Brands from $26.00 to $28.00 and gave the company a neutral rating in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. L Brands has an average rating of Hold and a consensus price target of $31.33.

Shares of LB stock opened at $26.37 on Monday. The business’s fifty day simple moving average is $24.67. The company has a market capitalization of $7.16 billion, a PE ratio of 9.35, a PEG ratio of 1.00 and a beta of 0.68. L Brands has a 52 week low of $21.44 and a 52 week high of $38.00.

L Brands (NYSE:LB) last announced its earnings results on Wednesday, May 22nd. The specialty retailer reported $0.14 EPS for the quarter. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.56 billion. L Brands had a negative return on equity of 74.29% and a net margin of 4.81%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, sell-side analysts anticipate that L Brands will post 2.4 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LB. Kessler Investment Group LLC acquired a new stake in shares of L Brands during the first quarter worth about $67,000. Harel Insurance Investments & Financial Services Ltd. raised its position in L Brands by 1,594.9% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,000 shares of the specialty retailer’s stock valued at $83,000 after buying an additional 2,823 shares during the last quarter. Investors Research Corp acquired a new stake in L Brands in the 1st quarter valued at approximately $127,000. Northwestern Mutual Wealth Management Co. raised its position in L Brands by 65.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock valued at $130,000 after buying an additional 1,857 shares during the last quarter. Finally, City Holding Co. raised its position in L Brands by 360.6% in the 2nd quarter. City Holding Co. now owns 6,131 shares of the specialty retailer’s stock valued at $160,000 after buying an additional 4,800 shares during the last quarter. 69.05% of the stock is currently owned by institutional investors.

About L Brands

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.

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Analyst Recommendations for L Brands (NYSE:LB)

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