L Brands (NYSE:LB) had its price objective hoisted by Telsey Advisory Group from $15.00 to $23.00 in a report released on Wednesday morning, Briefing.com Automated Import reports. The brokerage currently has a market perform rating on the specialty retailer’s stock.
A number of other equities research analysts also recently weighed in on LB. JPMorgan Chase & Co. raised shares of L Brands from a neutral rating to an overweight rating and set a $32.00 price target for the company in a report on Wednesday. Wedbush upped their price target on shares of L Brands from $10.00 to $12.00 and gave the company a neutral rating in a report on Monday, May 18th. ValuEngine raised shares of L Brands from a sell rating to a hold rating in a report on Thursday, May 21st. Morgan Stanley cut their price target on shares of L Brands from $14.00 to $13.00 and set an equal weight rating for the company in a report on Tuesday, May 12th. Finally, TheStreet downgraded shares of L Brands from a c- rating to a d rating in a report on Monday, June 22nd. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $22.57.
LB stock opened at $24.41 on Wednesday. The company has a market capitalization of $6.75 billion, a P/E ratio of 21.23, a PEG ratio of 19.59 and a beta of 1.22. The company has a 50-day simple moving average of $16.60 and a 200 day simple moving average of $16.87. L Brands has a fifty-two week low of $8.00 and a fifty-two week high of $26.66.
Institutional investors and hedge funds have recently modified their holdings of the company. Lone Pine Capital LLC acquired a new position in L Brands in the first quarter worth approximately $303,624,000. Prudential PLC bought a new stake in L Brands during the first quarter worth approximately $48,964,000. Norges Bank bought a new stake in L Brands during the fourth quarter worth approximately $46,414,000. Polaris Capital Management LLC boosted its position in L Brands by 86.1% during the first quarter. Polaris Capital Management LLC now owns 2,351,468 shares of the specialty retailer’s stock worth $27,183,000 after purchasing an additional 1,087,700 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of L Brands by 290.3% in the first quarter. Deutsche Bank AG now owns 1,288,593 shares of the specialty retailer’s stock valued at $14,897,000 after acquiring an additional 958,475 shares during the period. Institutional investors own 77.28% of the company’s stock.
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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