L Brands (NYSE:LB) had its price target dropped by analysts at JPMorgan Chase & Co. from $31.00 to $28.00 in a report released on Friday. The brokerage currently has a “neutral” rating on the specialty retailer’s stock. JPMorgan Chase & Co.’s target price points to a potential downside of 10.37% from the company’s previous close.
A number of other analysts also recently commented on LB. Zacks Investment Research downgraded shares of L Brands from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Loop Capital downgraded shares of L Brands from a “hold” rating to a “sell” rating and set a $28.00 price objective for the company. in a report on Thursday, May 10th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $30.00 price objective on shares of L Brands in a report on Thursday, May 24th. Barclays reiterated a “hold” rating and issued a $40.00 price objective on shares of L Brands in a report on Monday, April 30th. Finally, Citigroup upgraded shares of L Brands from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Monday, May 14th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and a consensus price target of $42.69.
Shares of L Brands traded down $0.27, hitting $31.24, during mid-day trading on Friday, according to Marketbeat. 6,237,086 shares of the company were exchanged, compared to its average volume of 4,247,071. L Brands has a 1-year low of $30.42 and a 1-year high of $63.10. The company has a quick ratio of 0.83, a current ratio of 1.56 and a debt-to-equity ratio of -5.90. The company has a market cap of $8.73 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 0.99 and a beta of 0.58.
L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, May 23rd. The specialty retailer reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. L Brands had a net margin of 7.30% and a negative return on equity of 93.09%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. sell-side analysts expect that L Brands will post 2.77 earnings per share for the current year.
In other news, Director Donna James sold 1,000 shares of the stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $35.29, for a total value of $35,290.00. Following the completion of the sale, the director now owns 19,738 shares of the company’s stock, valued at approximately $696,554.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 17.32% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC purchased a new position in shares of L Brands during the 2nd quarter worth approximately $104,000. Gradient Investments LLC purchased a new position in L Brands in the 2nd quarter valued at approximately $109,000. Private Capital Group LLC boosted its position in L Brands by 6,777.3% in the 2nd quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock valued at $111,000 after buying an additional 2,982 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in L Brands in the 1st quarter valued at approximately $117,000. Finally, Camarda Financial Advisors LLC purchased a new position in L Brands in the 1st quarter valued at approximately $131,000. 75.11% of the stock is owned by hedge funds and other institutional investors.
About L Brands
L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, home fragrance products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International.
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