L Brands (LB) PT Set at $28.00 by Piper Jaffray Companies
Piper Jaffray Companies set a $28.00 price objective on L Brands (NYSE:LB) in a research report sent to investors on Thursday, September 20th. The firm currently has a hold rating on the specialty retailer’s stock.
A number of other research analysts have also recently issued reports on the stock. Bank of America raised shares of L Brands from an underperform rating to a neutral rating and increased their target price for the company from $26.00 to $33.00 in a report on Tuesday, September 18th. Zacks Investment Research cut shares of L Brands from a hold rating to a sell rating in a research note on Tuesday, August 7th. Morgan Stanley raised their price objective on shares of L Brands from $54.00 to $56.00 and gave the stock an overweight rating in a research note on Friday, May 25th. Deutsche Bank dropped their price objective on shares of L Brands from $50.00 to $44.00 and set a buy rating for the company in a research note on Thursday, May 24th. Finally, Guggenheim reissued a hold rating on shares of L Brands in a research note on Wednesday, August 22nd. Five analysts have rated the stock with a sell rating, nineteen have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $37.76.
NYSE:LB traded up $1.17 during mid-day trading on Thursday, reaching $31.38. The stock had a trading volume of 6,894,523 shares, compared to its average volume of 5,056,761. The company has a quick ratio of 0.75, a current ratio of 1.46 and a debt-to-equity ratio of -5.09. The company has a market cap of $8.33 billion, a P/E ratio of 9.81, a PEG ratio of 1.05 and a beta of 0.51. L Brands has a twelve month low of $25.89 and a twelve month high of $63.10.
A number of hedge funds have recently modified their holdings of LB. Steward Partners Investment Advisory LLC raised its holdings in shares of L Brands by 23.7% during the second quarter. Steward Partners Investment Advisory LLC now owns 8,231 shares of the specialty retailer’s stock valued at $304,000 after acquiring an additional 1,578 shares during the period. Kovack Advisors Inc. increased its stake in L Brands by 15.7% in the 2nd quarter. Kovack Advisors Inc. now owns 11,836 shares of the specialty retailer’s stock valued at $437,000 after buying an additional 1,604 shares during the period. IBM Retirement Fund increased its stake in L Brands by 46.8% in the 1st quarter. IBM Retirement Fund now owns 5,279 shares of the specialty retailer’s stock valued at $202,000 after buying an additional 1,684 shares during the period. Xact Kapitalforvaltning AB increased its stake in L Brands by 3.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 46,021 shares of the specialty retailer’s stock valued at $1,758,000 after buying an additional 1,717 shares during the period. Finally, Brookstone Capital Management increased its stake in L Brands by 1.4% in the 2nd quarter. Brookstone Capital Management now owns 134,340 shares of the specialty retailer’s stock valued at $4,954,000 after buying an additional 1,918 shares during the period. Hedge funds and other institutional investors own 73.42% of the company’s stock.
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.
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