Trade Report: The L Brands Inc. (LB) Stock Rating Reaffirmed by Cowen and Company

The L Brands Inc. (LB) Stock Rating Reaffirmed by Cowen and Company

Cowen and Company reissued their outperform rating on shares of L Brands Inc. (NYSE:LB) in a research report released on Saturday morning. The firm currently has a $83.00 price objective on the stock.

Several other research firms have also recently commented on LB. Stifel Nicolaus restated a buy rating and issued a $82.00 target price (up from $75.00) on shares of L Brands in a research report on Friday, August 5th. Citigroup Inc. raised their target price on L Brands from $70.00 to $72.00 and gave the company a neutral rating in a research report on Monday, August 8th. FBR & Co restated a market perform rating and issued a $75.00 target price on shares of L Brands in a research report on Wednesday, August 31st. Morgan Stanley restated a buy rating and issued a $80.00 target price on shares of L Brands in a research report on Tuesday, August 23rd. Finally, Nomura restated a neutral rating and issued a $60.00 target price (up from $58.00) on shares of L Brands in a research report on Sunday, July 10th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. L Brands currently has a consensus rating of Hold and a consensus price target of $77.95.

Shares of L Brands (NYSE:LB) opened at 71.23 on Friday. L Brands has a 12 month low of $60.00 and a 12 month high of $101.11. The stock has a 50 day moving average price of $73.51 and a 200 day moving average price of $73.30. The stock has a market capitalization of $20.37 billion, a P/E ratio of 17.36 and a beta of 0.91.

L Brands (NYSE:LB) last posted its earnings results on Wednesday, August 17th. The company reported $0.70 EPS 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 had revenue of $2.89 billion for the quarter. During the same quarter in the prior year, the business earned $0.68 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that L Brands will post $3.83 EPS for the current fiscal year.

In other news, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 owns 13,970 shares in the company, valued at $1,082,535.30. The disclosure for this sale can be found here. 16.45% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Miles Capital Inc. purchased a new stake in L Brands during the first quarter worth $700,000. BB&T Securities LLC purchased a new stake in L Brands during the first quarter worth $261,000. Canada Pension Plan Investment Board increased its stake in L Brands by 34.5% in the first quarter. Canada Pension Plan Investment Board now owns 11,300 shares of the company’s stock worth $992,000 after buying an additional 2,900 shares during the period. Credit Agricole S A increased its stake in L Brands by 11.7% in the first quarter. Credit Agricole S A now owns 369,002 shares of the company’s stock worth $32,402,000 after buying an additional 38,798 shares during the period. Finally, Ropes Wealth Advisors LLC increased its stake in L Brands by 936.3% in the first quarter. Ropes Wealth Advisors LLC now owns 5,285 shares of the company’s stock worth $464,000 after buying an additional 4,775 shares during the period. Institutional investors and hedge funds own 75.60% of the company’s stock.

L Brands Company Profile

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