Trading Report: The L Brands’ (LB) “Outperform” Rating Reaffirmed at Cowen and Company

The L Brands’ (LB) “Outperform” Rating Reaffirmed at Cowen and Company

L Brands Inc. (NYSE:LB)‘s stock had its “outperform” rating reissued by analysts at Cowen and Company in a report released on Saturday. They currently have a $83.00 price objective on the stock. Cowen and Company’s price target suggests a potential upside of 16.52% from the stock’s previous close.

Several other brokerages have also commented on LB. Stifel Nicolaus restated a “buy” rating and issued a $82.00 price target (up previously from $75.00) on shares of L Brands in a research note on Friday, August 5th. Citigroup Inc. raised their price target on shares of 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 restated a “market perform” rating and issued a $75.00 price target on shares of L Brands in a research note on Wednesday, August 31st. Morgan Stanley restated a “buy” rating and issued a $80.00 price target on shares of L Brands in a research note on Tuesday, August 23rd. Finally, Nomura restated a “neutral” rating and issued a $60.00 price target (up previously from $58.00) on shares of L Brands in a research note on Sunday, July 10th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. L Brands currently has an average rating of “Hold” and a consensus price target of $77.95.

Shares of L Brands (NYSE:LB) opened at 71.23 on Friday. The stock has a market cap of $20.37 billion, a price-to-earnings ratio of 17.36 and a beta of 0.91. The company has a 50-day moving average price of $73.51 and a 200-day moving average price of $73.30. L Brands has a 1-year low of $60.00 and a 1-year high of $101.11.

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L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 17th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.11. L Brands had a net margin of 9.73% and a negative return on equity of 150.59%. The firm had revenue of $2.89 billion for the quarter. During the same period in the prior year, the business earned $0.68 EPS. The business’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts expect that L Brands will post $3.83 earnings per share for the current fiscal year.

In other news, CEO Nicholas Coe sold 4,951 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $67.53, for a total transaction of $334,341.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Charles Mcguigan sold 23,687 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $76.37, for a total transaction of $1,808,976.19. The disclosure for this sale can be found here. 16.45% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services Inc increased its position in L Brands by 2.2% in the first quarter. Commonwealth Equity Services Inc now owns 8,428 shares of the company’s stock valued at $740,000 after buying an additional 178 shares during the last quarter. Virginia Retirement System bought a new position in L Brands during the first quarter valued at about $351,000. Pacad Investment Ltd. bought a new position in L Brands during the first quarter valued at about $501,000. Prudential Financial Inc. increased its position in L Brands by 1.1% in the first quarter. Prudential Financial Inc. now owns 315,077 shares of the company’s stock valued at $27,667,000 after buying an additional 3,360 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. bought a new position in L Brands during the first quarter valued at about $247,000. Institutional investors own 75.60% of the company’s stock.

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