L Brands (LB) Trading Up 3.6% After Analyst Upgrade

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L Brands Inc (NYSE:LB)’s share price rose 3.6% on Friday after Nomura raised their price target on the stock from $30.00 to $32.00. Nomura currently has a neutral rating on the stock. L Brands traded as high as $32.42 and last traded at $31.31. Approximately 334,827 shares were traded during trading, a decline of 93% from the average daily volume of 5,047,433 shares. The stock had previously closed at $30.21.

Several other equities research analysts have also recently commented on LB. UBS Group initiated coverage on L Brands in a research note on Thursday, June 21st. They issued a “neutral” rating and a $37.00 price target for the company. Loop Capital set a $27.00 price target on L Brands and gave the company a “sell” rating in a research note on Thursday, July 12th. Guggenheim reissued a “hold” rating on shares of L Brands in a research note on Thursday, July 12th. Zacks Investment Research raised L Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Finally, Piper Jaffray Companies set a $29.00 price target on L Brands and gave the company a “hold” rating in a research note on Tuesday, August 7th. Five equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $37.76.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new position in shares of L Brands during the second quarter worth approximately $104,000. Gradient Investments LLC acquired a new position in shares of L Brands during the second quarter worth approximately $109,000. Private Capital Group LLC lifted its holdings in shares of L Brands by 6,777.3% during the second quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock worth $111,000 after buying an additional 2,982 shares during the last quarter. Ferguson Wellman Capital Management Inc. acquired a new position in shares of L Brands during the second quarter worth approximately $216,000. Finally, Norway Savings Bank acquired a new position in shares of L Brands during the second quarter worth approximately $221,000. Hedge funds and other institutional investors own 73.42% of the company’s stock.

The firm has a market capitalization of $8.33 billion, a P/E ratio of 9.81, a P/E/G ratio of 1.05 and a beta of 0.51. The company has a quick ratio of 0.75, a current ratio of 1.46 and a debt-to-equity ratio of -5.09.

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

About L Brands (NYSE:LB)

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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