The stock of L Brands, Inc. (NYSE:LB) is now priced at $31.54 and the shares are 2.14 points up or 7.28% higher compared to its previous closing price of $29.4. The stock had 7.185 million contracts set over the past session. LB shares’ daily volume is compared to its average trading volume at 7.005 million shares. However, it has a float of 228 million and although its performance was 3% over the week, it’s one to watch. Analysts have given the LB stock a yearly average price target of $30.4 per share. It means the stock’s downside potential is -3.61% with the LB share price recently placing at $28.83 to $31.56. However, some brokerage firms have priced the stock below the average, including one that has called $15.
The shorts are running away from the L Brands, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the LB shares have declined. Short interest in the stock represents just 7.37% of its float, but the volume has dropped by 0.
In the last trading session, L Brands, Inc. (NYSE:LB) raised by $0.92 over the week and gained $6.59 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $31.56. The stock recorded its established 52-week high on 09/01/20.
Since 03/17/20, the stock has traded to a low of $8 at 294.25%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.67. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, L Brands, Inc.’s two-week RSI is 75.29. This suggests that the stock is oversold at the moment and that LB shares’ price movement remains not stable. The stochastic readings are equally revealing at 76.36% meaning the LB share price is currently in oversold territory.
The technical chart shows that the LB stock will likely settle at between $32.46 and $33.37 per share. However, if the stock dips below $29.73, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $27.91.
Currently, the stock is trading in the green of MACD, with a reading of 0.08. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at MKM Partners raised their recommendation for LB from Neutral to Buy in August 25 review while maintain their target price of $40. Telsey Advisory Group analysts see the stock as a Market Perform, but they also raised the share’s target price from $23 to $30 in a flash note released to investors on August 21. Citigroup seeing the stock struggling downgraded it from Neutral to Sell on July 30 placing it at $15 to $17.
The average rating for the LB equity is 2.81 and is currently gathering a bullish momentum. Of 27 analysts tracking L Brands, Inc. polled by Reuters, 15 rated LB as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (9) rated it as a buy or strong buy. 3 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the LB stock price is 15.42X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for L Brands, Inc. (NYSE:LB) will increase by about 12.98%, which will see them reach $2.62 billion. The company’s full-year revenues are, however, expected to diminish by about -13.09%, down from $12900 million to $11200 million. LB’s expected adjusted earnings should surge almost 50% to end up at $0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -49.34% to record $1.16/share.