L Brands (NYSE:LB) Price Target Raised to $30.00

L Brands (NYSE:LB) had its price objective boosted by Bank of America from $25.00 to $30.00 in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. Bank of America currently has a buy rating on the specialty retailer’s stock.

Other analysts also recently issued reports about the company. Credit Suisse Group raised their target price on L Brands from $13.00 to $24.00 and gave the stock a neutral rating in a research report on Wednesday. TheStreet cut L Brands from a c- rating to a d rating in a research report on Monday, June 22nd. Telsey Advisory Group lifted their price target on L Brands from $15.00 to $23.00 and gave the company a market perform rating in a research report on Wednesday. BMO Capital Markets upgraded L Brands from a market perform rating to an outperform rating and set a $17.00 price target for the company in a research report on Tuesday, May 5th. Finally, Wells Fargo & Co lifted their price target on L Brands from $25.00 to $28.00 and gave the company an overweight rating in a research report on Friday, May 22nd. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $22.57.

NYSE:LB traded down $0.13 during trading hours on Wednesday, reaching $24.41. The stock had a trading volume of 5,620,433 shares, compared to its average volume of 6,501,089. The stock has a 50 day simple moving average of $16.60 and a 200 day simple moving average of $16.87. L Brands has a 12-month low of $8.00 and a 12-month high of $26.66. The stock has a market cap of $6.75 billion, a P/E ratio of -9.61, a price-to-earnings-growth ratio of 19.70 and a beta of 1.22.

L Brands (NYSE:LB) last released its earnings results on Wednesday, May 20th. The specialty retailer reported ($0.99) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.28). L Brands had a negative return on equity of 23.32% and a negative net margin of 5.89%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the business earned $0.14 earnings per share. The business’s quarterly revenue was down 37.1% compared to the same quarter last year. As a group, equities research analysts expect that L Brands will post 0.1 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Comerica Bank lifted its stake in L Brands by 6.3% during the second quarter. Comerica Bank now owns 50,924 shares of the specialty retailer’s stock worth $988,000 after purchasing an additional 3,010 shares during the last quarter. Lincoln National Corp lifted its stake in L Brands by 24.5% during the second quarter. Lincoln National Corp now owns 98,753 shares of the specialty retailer’s stock worth $1,478,000 after purchasing an additional 19,442 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its stake in L Brands by 23.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 61,500 shares of the specialty retailer’s stock worth $921,000 after purchasing an additional 11,500 shares during the last quarter. Mackay Shields LLC lifted its stake in L Brands by 3.7% during the second quarter. Mackay Shields LLC now owns 36,038 shares of the specialty retailer’s stock worth $539,000 after purchasing an additional 1,270 shares during the last quarter. Finally, Huntington National Bank lifted its stake in L Brands by 387.3% during the second quarter. Huntington National Bank now owns 34,396 shares of the specialty retailer’s stock worth $515,000 after purchasing an additional 27,338 shares during the last quarter. 77.28% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for L Brands (NYSE:LB)

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