Wedbush Raises L Brands (NYSE:LB) Price Target to $20.00

L Brands (NYSE:LB) had its price objective hoisted by research analysts at Wedbush from $16.00 to $20.00 in a research note issued to investors on Monday, The Fly reports. Wedbush’s price objective indicates a potential upside of 10.68% from the company’s current price.

A number of other brokerages also recently commented on LB. Morgan Stanley lowered their target price on L Brands from $34.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. Telsey Advisory Group lowered their price target on L Brands from $24.00 to $22.00 and set a “market perform” rating on the stock in a research report on Friday, August 23rd. Loop Capital lowered their price target on L Brands from $20.00 to $15.00 and set a “sell” rating on the stock in a research report on Thursday, August 22nd. B. Riley set a $30.00 price target on L Brands and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Citigroup lowered their price target on L Brands from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $24.35.

Shares of LB opened at $18.07 on Monday. L Brands has a 52 week low of $15.82 and a 52 week high of $35.62. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.64 and a beta of 0.77. The stock’s 50-day moving average price is $17.79 and its 200-day moving average price is $21.51.

L Brands (NYSE:LB) last issued its earnings results on Wednesday, August 21st. The specialty retailer reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. L Brands had a negative return on equity of 74.73% and a net margin of 4.37%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year. Equities research analysts expect that L Brands will post 2.38 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LB. Empirical Finance LLC boosted its position in L Brands by 1.1% during the second quarter. Empirical Finance LLC now owns 39,800 shares of the specialty retailer’s stock worth $1,039,000 after purchasing an additional 423 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of L Brands by 0.6% in the second quarter. Retirement Systems of Alabama now owns 106,965 shares of the specialty retailer’s stock valued at $2,792,000 after acquiring an additional 636 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of L Brands by 6.3% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 20,274 shares of the specialty retailer’s stock valued at $529,000 after acquiring an additional 1,200 shares in the last quarter. Kwmg LLC lifted its position in shares of L Brands by 7.9% in the second quarter. Kwmg LLC now owns 84,769 shares of the specialty retailer’s stock valued at $2,212,000 after acquiring an additional 6,195 shares in the last quarter. Finally, Gyroscope Capital Management Group LLC lifted its position in shares of L Brands by 17.0% in the second quarter. Gyroscope Capital Management Group LLC now owns 297,510 shares of the specialty retailer’s stock valued at $8,268,000 after acquiring an additional 43,173 shares in the last quarter. Institutional investors and hedge funds own 68.12% 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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