L Brands (NYSE:LB) Raised to “Outperform” at BMO Capital Markets

BMO Capital Markets upgraded shares of L Brands (NYSE:LB) to an outperform rating in a research report report published on Thursday morning, The Fly reports. They currently have $45.00 target price on the specialty retailer’s stock, up from their prior target price of $35.00.

Other equities research analysts also recently issued reports about the stock. Citigroup downgraded shares of L Brands from a neutral rating to a sell rating and upped their price objective for the company from $15.00 to $17.00 in a report on Thursday, July 30th. Wells Fargo & Company raised their price objective on shares of L Brands from $45.00 to $60.00 and gave the stock an overweight rating in a report on Thursday. Morgan Stanley boosted their target price on shares of L Brands from $28.00 to $30.00 and gave the company an equal weight rating in a report on Friday, November 13th. KeyCorp raised their price target on L Brands from $38.00 to $41.00 and gave the stock an overweight rating in a report on Tuesday, October 27th. Finally, Royal Bank of Canada boosted their price objective on L Brands from $24.00 to $30.00 and gave the company a sector perform rating in a research note on Friday, August 21st. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $33.76.

Shares of LB stock opened at $39.97 on Thursday. The firm has a market cap of $11.11 billion, a P/E ratio of -13.98, a PEG ratio of 2.06 and a beta of 1.62. The company has a 50 day moving average of $33.40 and a 200-day moving average of $24.14. L Brands has a 12-month low of $8.00 and a 12-month high of $40.79.

L Brands (NYSE:LB) last released its earnings results on Tuesday, November 17th. The specialty retailer reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $1.04. L Brands had a negative return on equity of 19.91% and a negative net margin of 6.96%. Equities research analysts anticipate that L Brands will post 1.26 earnings per share for the current fiscal year.

In other news, insider James L. Bersani sold 28,373 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.83% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Chiron Capital Management LLC bought a new position in L Brands during the 3rd quarter valued at approximately $35,000. Public Employees Retirement System of Ohio lifted its stake in L Brands by 3.8% in the third quarter. Public Employees Retirement System of Ohio now owns 89,036 shares of the specialty retailer’s stock worth $2,832,000 after acquiring an additional 3,294 shares during the period. Ratan Capital Management LP bought a new stake in L Brands in the third quarter valued at $4,772,000. Shellback Capital LP increased its position in L Brands by 173.7% during the 3rd quarter. Shellback Capital LP now owns 260,000 shares of the specialty retailer’s stock valued at $8,271,000 after purchasing an additional 165,000 shares during the period. Finally, Voloridge Investment Management LLC increased its position in L Brands by 221.8% during the 3rd 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 period. 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.

Featured Article: Technical Analysis

The Fly

Analyst Recommendations for L Brands (NYSE:LB)

Receive News & Ratings for L Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L Brands and related companies with MarketBeat.com's FREE daily email newsletter.