L Brands (NYSE:LB) received a $56.00 price target from analysts at MKM Partners in a note issued to investors on Friday, January 5th. The firm currently has a “hold” rating on the specialty retailer’s stock. MKM Partners’ price objective indicates a potential upside of 12.74% from the company’s current price.
Other analysts also recently issued reports about the stock. Scotiabank reiterated a “hold” rating and issued a $67.00 price target on shares of L Brands in a research report on Wednesday, November 22nd. Telsey Advisory Group reiterated an “outperform” rating and issued a $64.00 price target (up from $60.00) on shares of L Brands in a research report on Tuesday, November 28th. Robert W. Baird set a $60.00 price target on shares of L Brands and gave the company a “hold” rating in a research report on Thursday, December 28th. Barclays initiated coverage on shares of L Brands in a research report on Tuesday, September 19th. They issued an “equal weight” rating and a $41.00 price target on the stock. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $57.00 price target on shares of L Brands in a research report on Monday, September 18th. Six analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have assigned a buy rating to the company. L Brands presently has a consensus rating of “Hold” and a consensus price target of $51.86.
Shares of L Brands (LB) traded down $0.34 during trading hours on Friday, reaching $49.67. 4,133,500 shares of the company’s stock were exchanged, compared to its average volume of 7,100,933. L Brands has a 12-month low of $35.00 and a 12-month high of $63.10. The company has a current ratio of 1.45, a quick ratio of 0.60 and a debt-to-equity ratio of -5.10. The company has a market cap of $14,130.00, a price-to-earnings ratio of 15.14, a P/E/G ratio of 1.39 and a beta of 0.81.
L Brands declared that its Board of Directors has authorized a stock repurchase program on Monday, September 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.
In other L Brands news, Director David T. Kollat purchased 9,910 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was bought at an average cost of $50.34 per share, with a total value of $498,869.40. Following the purchase, the director now directly owns 158,878 shares of the company’s stock, valued at $7,997,918.52. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 16.68% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. M&T Bank Corp grew its stake in shares of L Brands by 0.3% in the second quarter. M&T Bank Corp now owns 17,171 shares of the specialty retailer’s stock valued at $925,000 after buying an additional 53 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of L Brands by 0.5% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,901 shares of the specialty retailer’s stock valued at $965,000 after buying an additional 83 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in shares of L Brands by 3.5% in the second quarter. Thrivent Financial For Lutherans now owns 9,154 shares of the specialty retailer’s stock valued at $493,000 after buying an additional 310 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of L Brands by 1.2% in the second quarter. Mutual of America Capital Management LLC now owns 29,574 shares of the specialty retailer’s stock valued at $1,594,000 after buying an additional 364 shares in the last quarter. Finally, Norinchukin Bank The grew its stake in shares of L Brands by 2.2% in the second quarter. Norinchukin Bank The now owns 19,021 shares of the specialty retailer’s stock valued at $1,025,000 after buying an additional 413 shares in the last quarter. 78.82% of the stock is owned by institutional investors and hedge funds.
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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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