Bath & Body Works (NYSE:BBWI) Price Target Raised to $48.00

Bath & Body Works (NYSE:BBWI) had its target price increased by stock analysts at TD Cowen from $42.00 to $48.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price suggests a potential upside of 25.62% from the stock’s previous close.

Other analysts also recently issued reports about the company. Citigroup reduced their price objective on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a report on Monday, November 25th. Wells Fargo & Company increased their price target on Bath & Body Works from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI dropped their price objective on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 28th. Finally, Raymond James reduced their target price on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Bath & Body Works Stock Up 2.2 %

Shares of BBWI opened at $38.21 on Thursday. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 1.44 and a beta of 1.83. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99. The stock has a 50 day moving average price of $32.59 and a 200 day moving average price of $34.78.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Monday, November 25th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, equities analysts anticipate that Bath & Body Works will post 3.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gina Boswell purchased 6,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Bath & Body Works

Several hedge funds have recently made changes to their positions in BBWI. True Wealth Design LLC grew its holdings in shares of Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after buying an additional 1,054 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after acquiring an additional 900 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Bath & Body Works during the 3rd quarter valued at about $39,000. TD Private Client Wealth LLC grew its stake in Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after acquiring an additional 331 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in shares of Bath & Body Works by 480.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock valued at $55,000 after purchasing an additional 1,436 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

About Bath & Body Works

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.