Cowen and Company reiterated their outperform rating on shares of L Brands Inc. (NYSE:LB) in a research report released on Saturday morning. Cowen and Company currently has a $83.00 price objective on the stock.
LB has been the subject of several other research reports. Argus reaffirmed a hold rating on shares of L Brands in a research note on Friday, August 26th. Mizuho reissued a buy rating and issued a $85.00 target price on shares of L Brands in a research note on Monday, September 26th. Telsey Advisory Group boosted their target price on shares of L Brands from $88.00 to $90.00 and gave the company an outperform rating in a research note on Friday, August 19th. Vetr raised shares of L Brands from a sell rating to a hold rating and set a $79.12 target price for the company in a research note on Monday, August 22nd. Finally, Jefferies Group reissued a hold rating on shares of L Brands in a research note on Monday, September 12th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $77.95.
L Brands (NYSE:LB) opened at 71.23 on Friday. L Brands has a 1-year low of $60.00 and a 1-year high of $101.11. The stock has a 50 day moving average of $73.51 and a 200 day moving average of $73.30. The stock has a market cap of $20.37 billion, a price-to-earnings ratio of 17.36 and a beta of 0.91.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.11. The business earned $2.89 billion during the quarter. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. Equities analysts expect that L Brands will post $3.83 earnings per share for the current year.
In other L Brands news, COO Charles Mcguigan sold 23,687 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Nicholas Coe sold 4,951 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $67.53, for a total value of $334,341.03. The disclosure for this sale can be found here. Corporate insiders own 16.45% of the company’s stock.
Large investors have recently modified their holdings of the company. Financial Architects Inc raised its stake in shares of L Brands by 56.4% in the second quarter. Financial Architects Inc now owns 1,749 shares of the company’s stock valued at $117,000 after buying an additional 631 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of L Brands during the second quarter valued at $123,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of L Brands by 44.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,872 shares of the company’s stock valued at $125,000 after buying an additional 572 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of L Brands by 98.0% in the second quarter. Global X Management Co. LLC now owns 2,053 shares of the company’s stock valued at $138,000 after buying an additional 1,016 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of L Brands by 5.9% in the second quarter. Quadrant Capital Group LLC now owns 2,226 shares of the company’s stock valued at $145,000 after buying an additional 124 shares in the last quarter. 75.60% of the stock is currently owned by hedge funds and other 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 and beauty categories. The Company operates through three segments: Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. Victoria’s Secret segment includes PINK, which is the specialty retailer of women’s intimate and other apparel with collections, fragrances, supermodels and runway shows.
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