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.
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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