Piper Sandler Raises Bath & Body Works (NYSE:BBWI) Price Target to $39.00

Bath & Body Works (NYSE:BBWI) had its price objective boosted by equities research analysts at Piper Sandler from $36.00 to $39.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 5.61% from the company’s current price.

Several other analysts also recently weighed in on BBWI. Telsey Advisory Group restated an “outperform” rating and set a $42.00 price objective on shares of Bath & Body Works in a research report on Monday, November 25th. Wells Fargo & Company increased their price objective on Bath & Body Works from $38.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley dropped their price objective on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, November 21st. Finally, Barclays increased their target price on shares of Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.69.

Bath & Body Works Stock Performance

Shares of BBWI traded down $0.77 during midday trading on Monday, hitting $36.93. The company had a trading volume of 1,351,608 shares, compared to its average volume of 2,492,572. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99. The firm has a market capitalization of $8.00 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.43 and a beta of 1.82. The company’s 50-day simple moving average is $34.96 and its 200-day simple moving average is $33.84.

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

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was bought at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the purchase, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. This represents a 2.53 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bath & Body Works

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

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.