L Brands (NYSE:LB) Price Target Increased to $17.00 by Analysts at Barclays

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.

L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, May 20th. The specialty retailer reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.28). L Brands had a negative return on equity of 26.37% and a negative net margin of 5.89%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the business earned $0.14 EPS. The company’s quarterly revenue was down 37.1% compared to the same quarter last year. Sell-side analysts expect that L Brands will post 0.8 EPS for the current fiscal year.

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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Analyst Recommendations for L Brands (NYSE:LB)

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