L Brands (NYSE:LB) Upgraded to Buy at UBS Group

Wednesday, April 7, 2021 | MarketBeat

L Brands (NYSE:LB) was upgraded by research analysts at UBS Group from a "neutral" rating to a "buy" rating in a research report issued on Wednesday, Briefing.com reports.

Several other analysts have also recently issued reports on LB. Wells Fargo & Company upped their price objective on L Brands from $65.00 to $75.00 in a research note on Thursday, February 25th. KeyCorp lifted their price objective on shares of L Brands from $59.00 to $64.00 in a report on Friday, February 26th. Deutsche Bank Aktiengesellschaft increased their target price on shares of L Brands from $78.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, March 29th. Zacks Investment Research raised shares of L Brands from a "hold" rating to a "strong-buy" rating and set a $65.00 price target for the company in a report on Tuesday, March 2nd. Finally, Barclays increased their price objective on shares of L Brands from $61.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. L Brands has a consensus rating of "Buy" and an average price target of $59.68.

L Brands stock opened at $62.04 on Wednesday. L Brands has a 52 week low of $8.80 and a 52 week high of $64.12. The stock has a market cap of $17.30 billion, a P/E ratio of -79.54, a price-to-earnings-growth ratio of 1.14 and a beta of 1.66. The stock has a 50 day moving average of $56.85 and a 200-day moving average of $42.89.

L Brands (NYSE:LB) last posted its quarterly earnings results on Tuesday, February 23rd. The specialty retailer reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.12. The firm had revenue of $4.82 billion for the quarter, compared to analysts' expectations of $4.95 billion. L Brands had a negative net margin of 1.77% and a negative return on equity of 37.40%. During the same period in the prior year, the company posted $1.88 earnings per share. Equities analysts forecast that L Brands will post 3.12 EPS for the current year.

In other L Brands news, CFO Stuart B. Burgdoerfer sold 75,848 shares of the firm's stock in a transaction dated Friday, February 26th. The shares were sold at an average price of $54.56, for a total transaction of $4,138,266.88. Following the transaction, the chief financial officer now owns 101,490 shares of the company's stock, valued at approximately $5,537,294.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Leslie H. Wexner sold 3,050,000 shares of the business's stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $58.31, for a total transaction of $177,845,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,137,127 shares of company stock valued at $182,611,443 in the last quarter. 17.83% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in L Brands in the fourth quarter worth about $92,467,000. Steadfast Capital Management LP raised its holdings in shares of L Brands by 34.3% in the 4th quarter. Steadfast Capital Management LP now owns 5,558,444 shares of the specialty retailer's stock worth $206,719,000 after purchasing an additional 1,418,141 shares in the last quarter. Egerton Capital UK LLP lifted its stake in L Brands by 8.8% during the fourth quarter. Egerton Capital UK LLP now owns 15,819,746 shares of the specialty retailer's stock valued at $588,336,000 after purchasing an additional 1,276,710 shares during the last quarter. Morgan Stanley boosted its holdings in L Brands by 205.2% during the fourth quarter. Morgan Stanley now owns 1,659,630 shares of the specialty retailer's stock worth $61,722,000 after buying an additional 1,115,800 shares in the last quarter. Finally, SummerHaven Investment Management LLC acquired a new position in L Brands in the fourth quarter worth approximately $986,000. 76.09% of the stock is currently 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, personal care, and beauty and home fragrance products. The company operates in three segments: Victoria's Secret, Bath & Body Works, and Victoria's Secret and Bath & Body Works International. Its products include bras and panties, loungewear, athletic attire, shower gels and lotions, aromatherapy, soaps and sanitizers, and body care accessories.

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