L Brands (LB) Earns Equal Weight Rating from Morgan Stanley
L Brands (NYSE:LB)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Morgan Stanley in a note issued to investors on Friday, August 24th. They currently have a $32.00 price objective on the specialty retailer’s stock, down from their prior price objective of $56.00. Morgan Stanley’s price target suggests a potential upside of 10.46% from the stock’s current price.
Several other brokerages have also weighed in on LB. Nomura increased their price objective on shares of L Brands from $29.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, June 7th. UBS Group began coverage on shares of L Brands in a report on Thursday, June 21st. They issued a “neutral” rating and a $37.00 price objective on the stock. B. Riley cut their target price on shares of L Brands from $58.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, May 25th. Barclays reiterated a “hold” rating and issued a $34.00 target price on shares of L Brands in a report on Monday, May 28th. Finally, Royal Bank of Canada cut their target price on shares of L Brands to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 26th. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.56.
L Brands stock traded up $1.53 during trading hours on Friday, hitting $28.97. 7,457,551 shares of the stock were exchanged, compared to its average volume of 7,327,555. The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of -5.09. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 0.97 and a beta of 0.56. L Brands has a 12 month low of $25.89 and a 12 month high of $63.10.
Institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position in shares of L Brands by 57.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 323,881 shares of the specialty retailer’s stock valued at $11,945,000 after acquiring an additional 118,729 shares during the period. Mount Yale Investment Advisors LLC lifted its stake in shares of L Brands by 21,640.9% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 200,016 shares of the specialty retailer’s stock worth $7,377,000 after buying an additional 199,096 shares during the last quarter. Andra AP fonden acquired a new stake in shares of L Brands during the 2nd quarter worth about $8,032,000. Global X Management Co LLC lifted its stake in shares of L Brands by 18.9% during the 2nd quarter. Global X Management Co LLC now owns 23,369 shares of the specialty retailer’s stock worth $862,000 after buying an additional 3,707 shares during the last quarter. Finally, Davy Asset Management Ltd acquired a new stake in shares of L Brands during the 2nd quarter worth about $5,143,000. 72.86% of the stock is owned by institutional investors and hedge funds.
L Brands Company Profile
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.
Further Reading: Price to Earnings Ratio (PE)
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