L Brands (LB) Shares Gap Up on Analyst Upgrade

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L Brands Inc (NYSE:LB) gapped up before the market opened on Monday after Citigroup raised their price target on the stock from $37.00 to $42.00. The stock had previously closed at $35.23, but opened at $36.50. Citigroup currently has a buy rating on the stock. L Brands shares last traded at $37.02, with a volume of 7836296 shares trading hands.

LB has been the topic of several other reports. Zacks Investment Research lowered L Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Barclays dropped their price target on 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 lowered L Brands from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $56.00 to $32.00 in a research report on Thursday, August 23rd. Bank of America upgraded L Brands from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $26.00 to $33.00 in a research report on Tuesday, September 18th. Finally, JPMorgan Chase & Co. dropped their price target on L Brands from $31.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, August 10th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $38.12.

Several hedge funds have recently bought and sold shares of LB. Piedmont Investment Advisors LLC purchased a new position in shares of L Brands in the second quarter worth $104,000. Gradient Investments LLC purchased a new position in shares of L Brands in the second quarter worth $109,000. Private Capital Group LLC raised its stake in shares of L Brands by 6,777.3% in the second quarter. Private Capital Group LLC now owns 3,026 shares of the specialty retailer’s stock worth $111,000 after purchasing an additional 2,982 shares during the last quarter. USAdvisors Wealth Management LLC purchased a new position in shares of L Brands in the third quarter worth $208,000. Finally, Ferguson Wellman Capital Management Inc. purchased a new position in shares of L Brands in the second quarter worth $216,000. Hedge funds and other institutional investors own 73.47% of the company’s stock.

The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 1.26 and a beta of 0.33.

L Brands (NYSE:LB) last posted its quarterly earnings results on Wednesday, August 22nd. The specialty retailer reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts anticipate that L Brands Inc will post 2.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date is Wednesday, November 21st. L Brands’s dividend payout ratio (DPR) is presently 75.00%.

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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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