L Brands (LB) Given a $23.00 Price Target by Loop Capital Analysts

Loop Capital set a $23.00 target price on L Brands (NYSE:LB) in a research report sent to investors on Thursday morning, The Fly reports. The brokerage currently has a sell rating on the specialty retailer’s stock.

Several other research firms have also recently weighed in on LB. Barclays set a $31.00 target price on shares of L Brands and gave the company a hold rating in a research note on Thursday, October 18th. Wells Fargo & Co upgraded shares of L Brands from a market perform rating to an outperform rating and increased their target price for the company from $30.00 to $55.00 in a research note on Monday, November 12th. KeyCorp upgraded shares of L Brands from an underweight rating to a sector weight rating in a research note on Thursday, November 8th. Citigroup increased their target price on shares of L Brands from $37.00 to $42.00 and gave the company a buy rating in a research note on Monday, November 12th. Finally, Goldman Sachs Group initiated coverage on shares of L Brands in a research note on Thursday, October 25th. They issued a buy rating and a $36.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $37.99.

LB stock opened at $26.46 on Thursday. L Brands has a 52-week low of $23.71 and a 52-week high of $53.39. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 0.96 and a beta of 0.65.



L Brands (NYSE:LB) last released its quarterly earnings results on Monday, November 19th. The specialty retailer reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. L Brands had a net margin of 5.81% and a negative return on equity of 76.28%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that L Brands will post 2.68 EPS for the current fiscal year.

In other news, Director Raymond Zimmerman sold 6,385 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $28.33, for a total transaction of $180,887.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.32% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ironwood Investment Counsel LLC increased its holdings in shares of L Brands by 27.7% during the third quarter. Ironwood Investment Counsel LLC now owns 19,238 shares of the specialty retailer’s stock worth $582,000 after buying an additional 4,177 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of L Brands by 7.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 125,092 shares of the specialty retailer’s stock worth $3,790,000 after buying an additional 9,200 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in shares of L Brands during the third quarter worth approximately $130,000. Radin Capital Partners Inc. acquired a new stake in shares of L Brands during the third quarter worth approximately $11,090,000. Finally, Bank of America Corp DE increased its holdings in shares of L Brands by 55.2% during the second quarter. Bank of America Corp DE now owns 651,871 shares of the specialty retailer’s stock worth $24,042,000 after buying an additional 231,777 shares in the last quarter. 71.78% of the stock is 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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