L Brands (LB) director Allan Tessler increased his stake last week by 23% when he made a significant purchase of $740k of stock at $37. A move that has sent the stock price up to $42.65.
The company has been hit by general retail worries and the closing of the VS Swimwear line. However it remains the go to destination for its VS and BBW lines and the 40% price drop over the past year looks overdone.
The recent increase is encouraging but the stock still looks cheap with a PE of 12.55. With high single digit EPS growth forecasts from analysts and with the significant vote of confidence from Mr Tessler, it could be the beginning of a turnaround.
This is not a recommendation to buy or sell. Stocks are not suitable for all investors. Please do your own research.
Submitted September 27, 2017 at 02:52PM by InterestingNews1 http://ift.tt/2yHGgYH
