L Brands (NYSE:LB) had its target price upped by Barclays from $10.00 to $17.00 in a research note released on Friday, Benzinga reports. Barclays currently has an equal weight rating on the specialty retailer’s stock.
A number of other research firms have also recently weighed in on LB. ValuEngine raised L Brands from a sell rating to a hold rating in a research report on Thursday. Odeon Capital Group cut L Brands from a buy rating to a hold rating and set a $28.00 price objective for the company. in a research report on Thursday, February 20th. Royal Bank of Canada decreased their price objective on L Brands from $24.00 to $14.00 and set a sector perform rating for the company in a research report on Wednesday, April 15th. Citigroup reduced their price target on L Brands from $20.00 to $9.00 and set a neutral rating for the company in a report on Tuesday, March 24th. Finally, Telsey Advisory Group reduced their price target on L Brands from $18.00 to $13.00 and set a market perform rating for the company in a report on Thursday, April 23rd. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $18.86.
NYSE:LB traded up $0.63 during mid-day trading on Friday, reaching $15.08. 12,084,787 shares of the stock were exchanged, compared to its average volume of 10,847,508. The company has a 50 day simple moving average of $12.18 and a 200-day simple moving average of $17.36. The stock has a market capitalization of $4.00 billion, a P/E ratio of -5.94, a P/E/G ratio of 1.38 and a beta of 1.09. L Brands has a 1 year low of $8.00 and a 1 year high of $28.01.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lone Pine Capital LLC purchased a new position in L Brands during the first quarter worth $303,624,000. Prudential PLC purchased a new position in L Brands during the first quarter worth $48,964,000. Norges Bank purchased a new position in L Brands during the fourth quarter worth $46,414,000. Contrarius Investment Management Ltd increased its position in L Brands by 205.3% during the fourth quarter. Contrarius Investment Management Ltd now owns 3,440,909 shares of the specialty retailer’s stock worth $62,349,000 after buying an additional 2,313,900 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in L Brands by 1,874.2% during the fourth quarter. Point72 Asset Management L.P. now owns 1,787,251 shares of the specialty retailer’s stock worth $32,385,000 after buying an additional 1,696,719 shares in the last quarter. 64.28% of the stock is owned by hedge funds and other institutional investors.
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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