L Brands (NYSE:LB) had its price objective upped by equities research analysts at Telsey Advisory Group from $64.00 to $70.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has an “outperform” rating on the specialty retailer’s stock. Telsey Advisory Group’s price target points to a potential upside of 20.36% from the company’s previous close.
A number of other brokerages have also commented on LB. Robert W. Baird reiterated a “hold” rating and set a $60.00 price target on shares of L Brands in a report on Friday, December 22nd. BMO Capital Markets set a $56.00 price target on shares of L Brands and gave the stock a “hold” rating in a report on Tuesday, December 19th. Morgan Stanley restated an “overweight” rating and issued a $70.00 target price on shares of L Brands in a report on Thursday, December 14th. CIBC restated a “hold” rating and issued a $60.00 target price on shares of L Brands in a report on Friday, December 8th. Finally, B. Riley restated a “buy” rating and issued a $58.00 target price on shares of L Brands in a report on Wednesday, November 29th. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $50.92.
Shares of L Brands (LB) traded down $1.73 during trading on Tuesday, reaching $58.16. 5,718,700 shares of the company’s stock were exchanged, compared to its average volume of 4,667,000. L Brands has a 1 year low of $35.00 and a 1 year high of $68.43. The company has a debt-to-equity ratio of -5.10, a current ratio of 1.45 and a quick ratio of 0.60. The firm has a market capitalization of $14,520.00, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.66 and a beta of 0.81.
L Brands announced that its Board of Directors has initiated a share buyback program on Monday, September 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
In other news, Director David T. Kollat acquired 9,910 shares of L Brands stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $50.34 per share, with a total value of $498,869.40. Following the transaction, the director now owns 158,878 shares of the company’s stock, valued at approximately $7,997,918.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.68% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LB. Schwab Charles Investment Management Inc. boosted its stake in L Brands by 6.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 844,693 shares of the specialty retailer’s stock valued at $45,521,000 after acquiring an additional 52,731 shares during the last quarter. Victory Capital Management Inc. boosted its stake in L Brands by 14.3% in the second quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock valued at $5,142,000 after acquiring an additional 11,967 shares during the last quarter. Keybank National Association OH boosted its stake in L Brands by 10.6% in the second quarter. Keybank National Association OH now owns 8,566 shares of the specialty retailer’s stock valued at $462,000 after acquiring an additional 822 shares during the last quarter. Principal Financial Group Inc. boosted its stake in L Brands by 3.0% in the second quarter. Principal Financial Group Inc. now owns 366,335 shares of the specialty retailer’s stock valued at $19,742,000 after acquiring an additional 10,816 shares during the last quarter. Finally, Swiss National Bank boosted its stake in L Brands by 2.8% in the second quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock valued at $47,719,000 after acquiring an additional 24,300 shares during the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.
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L Brands Company Profile
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.
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