Bath & Body Works (NYSE:BBWI) Price Target Raised to $38.00

Bath & Body Works (NYSE:BBWI) had its price objective lifted by analysts at Wells Fargo & Company from $32.00 to $38.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 7.86% from the company’s current price.

Other research analysts have also issued reports about the company. Bank of America reduced their price target on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Piper Sandler raised their target price on shares of Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday. The Goldman Sachs Group cut their price target on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft dropped their target price on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research note on Monday. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Bath & Body Works has an average rating of “Moderate Buy” and an average price target of $42.81.

Bath & Body Works Stock Down 1.5 %

Shares of BBWI stock traded down $0.55 during mid-day trading on Tuesday, reaching $35.23. The stock had a trading volume of 1,875,708 shares, compared to its average volume of 3,952,529. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99. The firm has a market cap of $7.72 billion, a PE ratio of 8.53, a P/E/G ratio of 0.98 and a beta of 1.79. The firm’s 50 day simple moving average is $30.69 and its 200 day simple moving average is $35.74.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. Sell-side analysts forecast that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Insider Transactions at Bath & Body Works

In related news, CEO Gina Boswell purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was purchased at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bath & Body Works

A number of large investors have recently modified their holdings of the company. Lone Pine Capital LLC increased its position in shares of Bath & Body Works by 15.8% in the second quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock worth $441,871,000 after purchasing an additional 1,547,399 shares during the last quarter. Anomaly Capital Management LP bought a new stake in shares of Bath & Body Works in the second quarter worth about $113,995,000. FMR LLC raised its holdings in shares of Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after acquiring an additional 2,501,828 shares in the last quarter. Sound Shore Management Inc. CT raised its holdings in Bath & Body Works by 10.0% in the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after purchasing an additional 189,889 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Bath & Body Works by 9,023.5% in the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after buying an additional 1,683,160 shares during the period. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Company Profile

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.