L Brands, Inc. (LB) Shares Gap Up After Analyst Upgrade

L Brands, Inc. (NYSE:LB)’s share price gapped up before the market opened on Friday after Buckingham Research raised their price target on the stock from $40.00 to $50.00. The stock had previously closed at $47.33, but opened at $49.12. Buckingham Research currently has a neutral rating on the stock. L Brands shares last traded at $50.48, with a volume of 4732639 shares.

A number of other brokerages have also issued reports on LB. Nomura upped their target price on shares of L Brands from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Jefferies Group LLC reiterated an “underperform” rating and set a $32.00 target price on shares of L Brands in a research report on Wednesday, August 9th. BidaskClub lowered shares of L Brands from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. set a $55.00 target price on shares of L Brands and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Piper Jaffray Companies set a $47.00 target price on shares of L Brands and gave the stock a “hold” rating in a research report on Thursday. Six investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $48.11.

In other news, Director Allan R. Tessler acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was bought at an average price of $37.00 per share, with a total value of $740,000.00. Following the transaction, the director now directly owns 43,342 shares in the company, valued at approximately $1,603,654. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 16.68% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aviva PLC lifted its stake in shares of L Brands by 5.7% during the 2nd quarter. Aviva PLC now owns 140,599 shares of the specialty retailer’s stock worth $7,578,000 after buying an additional 7,635 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of L Brands by 14.3% during the 2nd quarter. Victory Capital Management Inc. now owns 95,421 shares of the specialty retailer’s stock worth $5,142,000 after buying an additional 11,967 shares during the last quarter. Swiss National Bank lifted its stake in shares of L Brands by 2.8% during the 2nd quarter. Swiss National Bank now owns 885,489 shares of the specialty retailer’s stock worth $47,719,000 after buying an additional 24,300 shares during the last quarter. Bridgewater Associates LP lifted its stake in shares of L Brands by 16.5% during the 2nd quarter. Bridgewater Associates LP now owns 81,603 shares of the specialty retailer’s stock worth $4,398,000 after buying an additional 11,570 shares during the last quarter. Finally, Coronation Fund Managers Ltd. raised its stake in L Brands by 18.1% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 965,759 shares of the specialty retailer’s stock worth $52,045,000 after purchasing an additional 148,076 shares in the last quarter. Institutional investors own 80.71% of the company’s stock.

The company has a debt-to-equity ratio of -6.25, a current ratio of 1.68 and a quick ratio of 1.05. The firm has a market cap of $13,940.00, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 1.38 and a beta of 0.68.

L Brands (NYSE:LB) last issued its quarterly earnings data on Wednesday, November 15th. The specialty retailer reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. L Brands had a net margin of 8.04% and a negative return on equity of 103.18%. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the company earned $0.42 EPS. The business’s revenue was up 1.4% on a year-over-year basis. equities research analysts predict that L Brands, Inc. will post 3.11 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Wednesday, November 22nd. L Brands’s dividend payout ratio (DPR) is 73.17%.

L Brands declared that its board has approved a stock repurchase plan on Monday, September 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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L Brands Company Profile

L Brands, Inc operates specialty retail business. The Company is focused on women’s intimate and other apparel, personal care, beauty and home fragrance categories. Its segments include Victoria’s Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International. It sells its merchandise through company-owned specialty retail stores in the United States, Canada, the United Kingdom and Greater China, which are mall-based; through Websites, and through international franchise, license and wholesale partners.

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