Wells Fargo & Company Reiterates “Market Perform” Rating for L Brands, Inc. (LB)

L Brands, Inc. (NYSE:LB)‘s stock had its “market perform” rating reissued by stock analysts at Wells Fargo & Company in a research note issued on Wednesday. They currently have a $40.00 price objective on the specialty retailer’s stock, down from their prior price objective of $45.00. Wells Fargo & Company’s price objective suggests a potential upside of 1.63% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. FBR & Co set a $60.00 price target on shares of L Brands and gave the company a “buy” rating in a report on Thursday, May 18th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of L Brands in a report on Tuesday, June 20th. Cowen and Company reissued a “buy” rating and issued a $56.00 price target on shares of L Brands in a report on Tuesday, July 4th. Deutsche Bank AG reissued a “buy” rating and issued a $60.00 price target on shares of L Brands in a report on Tuesday, August 1st. Finally, Buckingham Research decreased their price target on shares of L Brands from $62.00 to $52.00 and set a “buy” rating for the company in a report on Friday, August 4th. Seven research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the company. L Brands currently has an average rating of “Hold” and an average price target of $47.46.

Shares of L Brands (NYSE LB) opened at 39.36 on Wednesday. L Brands has a 1-year low of $35.00 and a 1-year high of $75.94. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 11.55 and a beta of 0.65. The stock’s 50 day moving average price is $40.09 and its 200 day moving average price is $47.44.

L Brands (NYSE:LB) last released its earnings results on Wednesday, August 16th. The specialty retailer reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the business earned $0.70 EPS. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. Analysts expect that L Brands will post $3.14 EPS for the current year.

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Hedge funds have recently modified their holdings of the company. First Personal Financial Services raised its holdings in shares of L Brands by 127.7% in the 2nd quarter. First Personal Financial Services now owns 1,954 shares of the specialty retailer’s stock valued at $105,000 after purchasing an additional 1,096 shares during the period. FNY Partners Fund LP bought a new stake in shares of L Brands in the 1st quarter valued at about $129,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of L Brands in the 1st quarter valued at about $142,000. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of L Brands by 11.2% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 3,719 shares of the specialty retailer’s stock valued at $200,000 after purchasing an additional 375 shares during the period. Finally, Summit Financial Strategies Inc. bought a new stake in shares of L Brands in the 2nd quarter valued at about $214,000. 79.54% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for L Brands (NYSE:LB)

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