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.
ILLEGAL ACTIVITY WARNING: “Wells Fargo & Company Reiterates “Market Perform” Rating for L Brands, Inc. (LB)” was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.tickerreport.com/banking-finance/2888402/wells-fargo-company-reiterates-market-perform-rating-for-l-brands-inc-lb.html.
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.
Receive News & Ratings for L Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.