L Brands Inc. (NYSE:LB)‘s stock had its “neutral” rating reiterated by research analysts at MKM Partners in a report released on Wednesday. They currently have a $71.00 price objective on the stock. MKM Partners’ target price would indicate a potential downside of 2.34% from the company’s current price.
Several other research firms also recently weighed in on LB. Stifel Nicolaus reaffirmed a “buy” rating and issued a $82.00 price objective (up from $75.00) on shares of L Brands in a research note on Friday, August 5th. Citigroup Inc. raised their price objective on L Brands from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. FBR & Co reaffirmed a “market perform” rating and issued a $75.00 price objective on shares of L Brands in a research note on Wednesday, August 31st. Morgan Stanley reiterated a “buy” rating and set a $80.00 target price on shares of L Brands in a report on Tuesday, August 23rd. Finally, Nomura reiterated a “neutral” rating and set a $60.00 target price (up previously from $58.00) on shares of L Brands in a report on Sunday, July 10th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. L Brands currently has an average rating of “Hold” and an average target price of $78.32.
L Brands (NYSE:LB) opened at 72.70 on Wednesday. L Brands has a 1-year low of $60.00 and a 1-year high of $101.11. The firm’s 50-day moving average price is $72.86 and its 200-day moving average price is $73.00. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of 17.72 and a beta of 0.91.
L Brands (NYSE:LB) last released its quarterly earnings data on Wednesday, August 17th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.11. L Brands had a negative return on equity of 150.59% and a net margin of 9.73%. The firm earned $2.89 billion during the quarter. During the same period in the previous year, the business earned $0.68 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that L Brands will post $3.83 earnings per share for the current year.
In related news, insider Martin P. Waters sold 45,500 shares of L Brands stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $77.49, for a total value of $3,525,795.00. Following the completion of the transaction, the insider now directly owns 13,970 shares in the company, valued at $1,082,535.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Charles Mcguigan sold 23,687 shares of L Brands stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total value of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Parametrica Management Ltd purchased a new position in L Brands during the third quarter worth approximately $314,000. MSI Financial Services Inc increased its position in L Brands by 485.4% in the third quarter. MSI Financial Services Inc now owns 27,736 shares of the company’s stock worth $1,963,000 after buying an additional 22,998 shares during the period. Prospera Financial Services Inc increased its position in L Brands by 5.8% in the third quarter. Prospera Financial Services Inc now owns 3,864 shares of the company’s stock worth $273,000 after buying an additional 213 shares during the period. Osborn Rohs Williams & Donohoe Ltd increased its position in shares of L Brands by 89.0% in the third quarter. Osborn Rohs Williams & Donohoe Ltd now owns 5,840 shares of the company’s stock worth $413,000 after buying an additional 2,750 shares during the last quarter. Finally, Creative Planning increased its position in shares of L Brands by 16.8% in the third quarter. Creative Planning now owns 5,193 shares of the company’s stock worth $367,000 after buying an additional 747 shares during the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.
About L Brands