L Brands (NYSE:LB)‘s stock had its “buy” rating reissued by investment analysts at Robert W. Baird in a research note issued to investors on Thursday. They presently have a $55.00 price target on the specialty retailer’s stock. Robert W. Baird’s price objective points to a potential upside of 52.02% from the company’s current price.
LB has been the subject of several other research reports. Credit Suisse Group assumed coverage on shares of L Brands in a research note on Monday, March 12th. They issued a “neutral” rating and a $45.00 price objective for the company. Zacks Investment Research cut shares of L Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Guggenheim restated a “hold” rating on shares of L Brands in a research report on Thursday. Scotiabank restated a “hold” rating and issued a $59.00 target price on shares of L Brands in a research report on Wednesday, January 17th. Finally, Citigroup restated a “hold” rating and issued a $58.00 target price on shares of L Brands in a research report on Friday, January 5th. Seven equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $49.37.
Shares of L Brands stock opened at $36.18 on Thursday. L Brands has a twelve month low of $35.00 and a twelve month high of $63.10. The company has a quick ratio of 1.01, a current ratio of 1.62 and a debt-to-equity ratio of -7.60. The stock has a market capitalization of $10,700.67, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.04 and a beta of 0.78.
L Brands announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 8th that authorizes the company to buyback $226.90 million in outstanding shares. This buyback authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other L Brands news, CFO Stuart B. Burgdoerfer sold 33,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $42.53, for a total transaction of $1,403,490.00. Following the sale, the chief financial officer now directly owns 69,640 shares of the company’s stock, valued at approximately $2,961,789.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stuart B. Burgdoerfer sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $39.56, for a total transaction of $672,520.00. Following the sale, the chief financial officer now directly owns 52,640 shares in the company, valued at $2,082,438.40. The disclosure for this sale can be found here. Insiders own 16.68% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of LB. Dimensional Fund Advisors LP grew its holdings in L Brands by 7.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 515,613 shares of the specialty retailer’s stock worth $21,459,000 after acquiring an additional 36,547 shares during the last quarter. Stifel Financial Corp grew its holdings in L Brands by 51.1% during the 3rd quarter. Stifel Financial Corp now owns 16,688 shares of the specialty retailer’s stock worth $694,000 after acquiring an additional 5,644 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in L Brands during the 3rd quarter worth approximately $206,000. Chevy Chase Trust Holdings Inc. grew its holdings in L Brands by 4.8% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 219,402 shares of the specialty retailer’s stock worth $9,129,000 after acquiring an additional 10,077 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in L Brands by 3.4% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 42,840 shares of the specialty retailer’s stock worth $1,782,000 after acquiring an additional 1,395 shares during the last quarter. 81.06% of the stock is currently owned by hedge funds and other institutional investors.
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L Brands Company Profile
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.
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