L Brands (NYSE:LB) Price Target Increased to $53.00 by Analysts at JPMorgan Chase & Co.

L Brands (NYSE:LB) had its target price upped by JPMorgan Chase & Co. from $50.00 to $53.00 in a report released on Thursday morning, The Fly reports. The firm currently has an overweight rating on the specialty retailer’s stock.

Other equities analysts have also issued research reports about the company. DA Davidson boosted their price objective on L Brands from $14.00 to $29.00 and gave the stock a neutral rating in a research note on Friday, August 21st. KeyCorp increased their price objective on shares of L Brands from $38.00 to $41.00 and gave the stock an overweight rating in a report on Tuesday, October 27th. Wells Fargo & Company upped their target price on shares of L Brands from $45.00 to $60.00 and gave the stock an overweight rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of L Brands from $33.00 to $39.00 and gave the company a buy rating in a report on Friday, October 9th. Finally, B. Riley upped their price objective on L Brands from $38.00 to $39.00 and gave the stock a buy rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $33.76.

LB opened at $39.97 on Thursday. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of -13.98, a PEG ratio of 2.06 and a beta of 1.62. The firm’s 50-day simple moving average is $33.40 and its 200-day simple moving average is $24.14. L Brands has a twelve month low of $8.00 and a twelve month high of $40.79.

L Brands (NYSE:LB) last posted its quarterly earnings data on Tuesday, November 17th. The specialty retailer reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $1.04. L Brands had a negative net margin of 6.96% and a negative return on equity of 19.91%. As a group, sell-side analysts predict that L Brands will post 1.26 EPS for the current fiscal year.

In other news, insider James L. Bersani sold 28,373 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $30.00, for a total transaction of $851,190.00. Following the completion of the sale, the insider now owns 242,339 shares of the company’s stock, valued at $7,270,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.83% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Egerton Capital UK LLP lifted its position in L Brands by 68.2% during the 3rd quarter. Egerton Capital UK LLP now owns 14,543,036 shares of the specialty retailer’s stock worth $462,614,000 after buying an additional 5,897,656 shares in the last quarter. BlackRock Inc. increased its position in shares of L Brands by 7.4% in the third quarter. BlackRock Inc. now owns 14,098,313 shares of the specialty retailer’s stock valued at $448,468,000 after acquiring an additional 973,270 shares during the last quarter. AQR Capital Management LLC raised its holdings in L Brands by 142.6% during the second quarter. AQR Capital Management LLC now owns 1,652,492 shares of the specialty retailer’s stock worth $24,573,000 after acquiring an additional 971,470 shares in the last quarter. Voloridge Investment Management LLC boosted its position in L Brands by 221.8% during the third quarter. Voloridge Investment Management LLC now owns 1,389,134 shares of the specialty retailer’s stock valued at $44,188,000 after purchasing an additional 957,421 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in L Brands by 271.8% in the second quarter. Victory Capital Management Inc. now owns 826,327 shares of the specialty retailer’s stock valued at $12,370,000 after purchasing an additional 604,102 shares in the last quarter. Hedge funds and other institutional investors own 76.89% of the company’s stock.

L Brands Company Profile

L Brands, Inc operates as a specialty retailer of women's intimate and other apparel, personal care, and beauty and home fragrance products. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include bras and panties, loungewear, athletic attire, shower gels and lotions, aromatherapy, soaps and sanitizers, and body care accessories.

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Analyst Recommendations for L Brands (NYSE:LB)

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