L Brands (LB) PT Raised to $32.00 at Nomura

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L Brands (NYSE:LB) had its price target upped by research analysts at Nomura from $30.00 to $32.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. Nomura’s price objective would indicate a potential upside of 1.98% from the company’s previous close.

LB has been the topic of a number of other reports. Zacks Investment Research downgraded shares of L Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Barclays reduced their target price on shares of L Brands from $33.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, August 23rd. Morgan Stanley downgraded shares of L Brands from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $56.00 to $32.00 in a research report on Thursday, August 23rd. Bank of America raised shares of L Brands from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $26.00 to $33.00 in a research report on Tuesday, September 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of L Brands from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, August 10th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the company. L Brands currently has a consensus rating of “Hold” and a consensus target price of $37.76.

NYSE:LB opened at $31.38 on Friday. The stock has a market capitalization of $8.33 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 1.05 and a beta of 0.51. The company has a current ratio of 1.46, a quick ratio of 0.75 and a debt-to-equity ratio of -5.09. L Brands has a 1-year low of $25.89 and a 1-year high of $63.10.

L Brands (NYSE:LB) last released its earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.92 billion. L Brands had a net margin of 6.87% and a negative return on equity of 84.14%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. On average, analysts forecast that L Brands will post 2.51 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in L Brands by 499.8% during the 1st quarter. Millennium Management LLC now owns 1,135,675 shares of the specialty retailer’s stock valued at $43,394,000 after acquiring an additional 946,326 shares during the period. Makaira Partners LLC lifted its stake in L Brands by 33.3% during the 2nd quarter. Makaira Partners LLC now owns 3,364,372 shares of the specialty retailer’s stock valued at $124,078,000 after acquiring an additional 840,790 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in L Brands by 1,000.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 440,000 shares of the specialty retailer’s stock valued at $16,227,000 after acquiring an additional 400,000 shares during the period. Aviance Capital Management LLC bought a new position in L Brands during the 2nd quarter valued at about $14,019,000. Finally, Douglas Lane & Associates LLC lifted its stake in L Brands by 27.4% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,615,015 shares of the specialty retailer’s stock valued at $48,935,000 after acquiring an additional 347,017 shares during the period. 73.42% of the stock is currently owned by 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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