L Brands (NYSE:LB) had its target price decreased by stock analysts at Loop Capital from $20.00 to $15.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has a “sell” rating on the specialty retailer’s stock. Loop Capital’s price objective suggests a potential downside of 19.27% from the company’s current price.
Several other analysts have also issued reports on LB. Citigroup lowered shares of L Brands from a “buy” rating to a “neutral” rating and boosted their price target for the company from $26.50 to $27.00 in a research report on Monday, July 15th. Wells Fargo & Co set a $35.00 price target on shares of L Brands and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Bank of America set a $30.00 price target on shares of L Brands and gave the company a “hold” rating in a research report on Thursday, May 23rd. Wedbush reaffirmed a “neutral” rating on shares of L Brands in a report on Monday. Finally, Zacks Investment Research lowered shares of L Brands from a “buy” rating to a “hold” rating and set a $28.00 target price on the stock. in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. L Brands presently has a consensus rating of “Hold” and an average target price of $30.96.
LB traded down $1.75 during midday trading on Thursday, reaching $18.58. The company had a trading volume of 11,281,414 shares, compared to its average volume of 4,281,551. The stock has a market cap of $5.57 billion, a PE ratio of 6.59, a P/E/G ratio of 0.77 and a beta of 0.69. L Brands has a 12-month low of $19.45 and a 12-month high of $38.00. The business has a 50-day moving average price of $24.64 and a two-hundred day moving average price of $25.31.
A number of hedge funds have recently added to or reduced their stakes in the business. First Mercantile Trust Co. purchased a new stake in shares of L Brands in the 2nd quarter valued at $32,000. Phocas Financial Corp. purchased a new stake in shares of L Brands in the 2nd quarter valued at $41,000. Investors Research Corp purchased a new stake in shares of L Brands in the 1st quarter valued at $127,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of L Brands by 65.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,703 shares of the specialty retailer’s stock valued at $130,000 after purchasing an additional 1,857 shares in the last quarter. Finally, Trustcore Financial Services LLC purchased a new stake in shares of L Brands in the 2nd quarter valued at $130,000. 71.65% of the stock is owned by institutional investors and hedge funds.
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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