L Brands (LB) Hits New 12-Month Low After Analyst Downgrade

L Brands Inc (NYSE:LB) shares reached a new 52-week low during mid-day trading on Wednesday after Loop Capital lowered their price target on the stock to $20.00. Loop Capital currently has a sell rating on the stock. L Brands traded as low as $21.82 and last traded at $22.52, with a volume of 175271 shares trading hands. The stock had previously closed at $22.51.

Other research analysts also recently issued reports about the stock. UBS Group upped their target price on shares of L Brands from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Odeon Capital Group started coverage on shares of L Brands in a research report on Friday, April 26th. They issued a “buy” rating on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $28.00 price target (down from $31.00) on shares of L Brands in a research report on Friday, March 1st. Zacks Investment Research downgraded shares of L Brands from a “hold” rating to a “sell” rating in a research report on Monday. Finally, DA Davidson cut their price target on shares of L Brands to $26.00 and set a “neutral” rating on the stock in a research report on Friday, March 1st. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company’s stock. L Brands currently has an average rating of “Hold” and an average target price of $33.35.

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of L Brands by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 558,732 shares of the specialty retailer’s stock worth $16,928,000 after buying an additional 7,271 shares in the last quarter. DNB Asset Management AS raised its holdings in shares of L Brands by 9.9% in the 4th quarter. DNB Asset Management AS now owns 26,559 shares of the specialty retailer’s stock valued at $682,000 after acquiring an additional 2,400 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd raised its holdings in shares of L Brands by 50.0% in the 4th quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 16,500 shares of the specialty retailer’s stock valued at $424,000 after acquiring an additional 5,500 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of L Brands by 4.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,178 shares of the specialty retailer’s stock valued at $261,000 after acquiring an additional 403 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of L Brands in the 4th quarter valued at about $1,126,000. Hedge funds and other institutional investors own 71.24% of the company’s stock.

The firm has a market cap of $6.13 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 0.86 and a beta of 0.51.

L Brands (NYSE:LB) last released its quarterly earnings results on Wednesday, February 27th. The specialty retailer reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.08. L Brands had a negative return on equity of 73.73% and a net margin of 4.86%. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the firm posted $2.11 EPS. The company’s revenue was up .6% compared to the same quarter last year. Sell-side analysts forecast that L Brands Inc will post 2.36 EPS for the current year.

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L Brands Company Profile (NYSE:LB)

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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