Guggenheim analyst Robert Drbul maintained a Hold rating on L Brands (NYSE: LB) today. The company’s shares opened today at $32.04, close to its 52-week low of $30.42.
Drbul observed:
“We maintain our NEUTRAL rating. In July, total company comp sales were flat YoY (stores -2%), slightly above our -LSD expectations but decelerating from June. The LB total comp (flat; stores -2%) included a 4% decline at Victoria’s Secret (stores -6%) and a 10% increase at Bath & Body Works (stores +8%). For the total company, July sales increased 11% to $849.7mn. Sales growth was impacted by the calendar shift (sales benefited from the higher volume first week of calendar August).”
According to TipRanks.com, Drbul is a top 100 analyst with an average return of 18.1% and a 79.0% success rate. Drbul covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Lululemon Athletica Inc, and Ascena Retail Group.
L Brands has an analyst consensus of Hold, with a price target consensus of $34.86, representing an 8.8% upside. In a report issued on August 7, Piper Jaffray also reiterated a Hold rating on the stock with a $29 price target.
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Based on L Brands’ latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $2.63 billion and net profit of $48 million. In comparison, last year the company earned revenue of $2.76 billion and had a net profit of $139 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock.
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L Brands, Inc. engages in the retail business. It is focused on women’s intimate and other apparel, personal care and beauty categories. It operates its business through the following segments: Victorias Secret, Bath & Body Works, and Victoria’s Secret and Bath & Body Works International.
