Telsey Advisory Group Trims L Brands (LB) Target Price to $41.00

L Brands (NYSE:LB) had its price target cut by Telsey Advisory Group from $52.00 to $41.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a market perform rating on the specialty retailer’s stock.

A number of other research firms also recently commented on LB. Robert W. Baird reaffirmed a hold rating and issued a $60.00 price target on shares of L Brands in a research note on Friday, December 22nd. BMO Capital Markets set a $56.00 price target on L Brands and gave the company a hold rating in a research note on Tuesday, December 19th. Morgan Stanley reaffirmed an overweight rating and issued a $70.00 price target on shares of L Brands in a research note on Thursday, December 14th. Barclays boosted their price target on L Brands from $44.00 to $49.00 and gave the company an equal weight rating in a research note on Thursday, January 25th. Finally, Citigroup reaffirmed a hold rating and issued a $58.00 price target on shares of L Brands in a research note on Friday, January 5th. Seven research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have issued a buy rating to the stock. L Brands has an average rating of Hold and an average price target of $49.37.

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Shares of L Brands stock opened at $36.18 on Friday. The stock has a market capitalization of $10,212.36, a PE ratio of 11.24, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. L Brands has a 52-week low of $35.00 and a 52-week high of $63.10. The company has a debt-to-equity ratio of -7.60, a current ratio of 1.62 and a quick ratio of 1.01.

L Brands (NYSE:LB) last announced its earnings results on Wednesday, February 28th. The specialty retailer reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.06. The company had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.72 billion. L Brands had a net margin of 7.78% and a negative return on equity of 101.69%. L Brands’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 earnings per share. analysts anticipate that L Brands will post 3.16 earnings per share for the current year.

L Brands declared that its board has initiated a stock buyback plan on Thursday, March 8th that permits the company to repurchase $226.90 million in shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

In other news, CFO Stuart B. Burgdoerfer sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $42.53, for a total value of $1,403,490.00. Following the completion of the transaction, the chief financial officer now owns 69,640 shares of the company’s stock, valued at $2,961,789.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stuart B. Burgdoerfer sold 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $39.56, for a total value of $672,520.00. Following the completion of the transaction, the chief financial officer now directly owns 52,640 shares of the company’s stock, valued at approximately $2,082,438.40. The disclosure for this sale can be found here. Corporate insiders own 17.32% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. HPM Partners LLC increased its stake in shares of L Brands by 16.0% in the fourth quarter. HPM Partners LLC now owns 8,274 shares of the specialty retailer’s stock valued at $498,000 after buying an additional 1,143 shares during the period. Profund Advisors LLC boosted its holdings in L Brands by 17.9% in the fourth quarter. Profund Advisors LLC now owns 8,261 shares of the specialty retailer’s stock valued at $497,000 after acquiring an additional 1,257 shares during the last quarter. Meadow Creek Investment Management LLC boosted its holdings in L Brands by 14.6% in the fourth quarter. Meadow Creek Investment Management LLC now owns 9,912 shares of the specialty retailer’s stock valued at $597,000 after acquiring an additional 1,260 shares during the last quarter. Sigma Planning Corp boosted its holdings in L Brands by 18.7% in the fourth quarter. Sigma Planning Corp now owns 8,589 shares of the specialty retailer’s stock valued at $517,000 after acquiring an additional 1,354 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in L Brands by 182.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,110 shares of the specialty retailer’s stock valued at $128,000 after acquiring an additional 1,364 shares during the last quarter. 81.11% of the stock is owned by institutional investors.

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About L Brands

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, beauty and personal care products, and accessories. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include loungewear, bras, panties, swimwear, athletic attire, fragrances, shower gels and lotions, aromatherapy, soaps and sanitizers, home fragrances, handbags, jewelry, and personal care accessories.

Analyst Recommendations for L Brands (NYSE:LB)

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