L Brands (LB) Stock Rating Reaffirmed by Telsey Advisory Group
Telsey Advisory Group reissued their market perform rating on shares of L Brands (NYSE:LB) in a research note released on Friday. Telsey Advisory Group currently has a $31.00 price objective on the specialty retailer’s stock, down from their previous price objective of $33.00.
A number of other brokerages have also recently issued reports on LB. Bank of America upgraded L Brands from an underperform rating to a neutral rating and raised their target price for the stock from $26.00 to $33.00 in a report on Tuesday, September 18th. Zacks Investment Research upgraded L Brands from a strong sell rating to a hold rating in a report on Tuesday, October 23rd. Barclays set a $31.00 target price on L Brands and gave the stock a hold rating in a report on Thursday, October 18th. DA Davidson initiated coverage on L Brands in a report on Tuesday, December 18th. They set a neutral rating and a $32.00 target price on the stock. Finally, Goldman Sachs Group initiated coverage on L Brands in a report on Thursday, October 25th. They set a buy rating and a $36.00 target price on the stock. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. L Brands presently has an average rating of Hold and an average target price of $37.99.
L Brands stock opened at $26.46 on Friday. The stock has a market capitalization of $7.77 billion, a P/E ratio of 8.27, a PEG ratio of 0.96 and a beta of 0.65. L Brands has a 12-month low of $23.71 and a 12-month high of $53.39.
In other news, Director Raymond Zimmerman sold 6,385 shares of L Brands stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $28.33, for a total transaction of $180,887.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 17.32% of the company’s stock.
A number of institutional investors have recently made changes to their positions in LB. Oregon Public Employees Retirement Fund acquired a new stake in L Brands in the 2nd quarter valued at approximately $991,000. OppenheimerFunds Inc. raised its position in L Brands by 7.5% in the 2nd quarter. OppenheimerFunds Inc. now owns 527,991 shares of the specialty retailer’s stock valued at $19,472,000 after buying an additional 36,822 shares during the last quarter. Raymond James & Associates raised its position in L Brands by 66.1% in the 2nd quarter. Raymond James & Associates now owns 255,067 shares of the specialty retailer’s stock valued at $9,407,000 after buying an additional 101,476 shares during the last quarter. Bank of America Corp DE raised its position in L Brands by 55.2% in the 2nd quarter. Bank of America Corp DE now owns 651,871 shares of the specialty retailer’s stock valued at $24,042,000 after buying an additional 231,777 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in L Brands in the 2nd quarter valued at approximately $783,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.
About L Brands
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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