Bath & Body Works (NYSE:BBWI) Given New $38.00 Price Target at Barclays

Bath & Body Works (NYSE:BBWI - Get Free Report) had its target price dropped by equities researchers at Barclays from $43.00 to $38.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective would indicate a potential upside of 11.16% from the stock's current price.

Several other equities research analysts have also weighed in on BBWI. JPMorgan Chase & Co. set a $47.00 price objective on Bath & Body Works in a research note on Thursday, February 27th. TD Cowen increased their price objective on Bath & Body Works from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Telsey Advisory Group restated an "outperform" rating and issued a $43.00 target price on shares of Bath & Body Works in a research note on Thursday, February 27th. Citigroup upgraded shares of Bath & Body Works from a "neutral" rating to a "buy" rating and increased their target price for the stock from $40.00 to $48.00 in a research report on Friday, February 28th. Finally, Piper Sandler boosted their price target on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $45.06.

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Bath & Body Works Price Performance

Shares of NYSE BBWI traded down $0.44 during trading hours on Monday, reaching $34.18. The stock had a trading volume of 4,212,196 shares, compared to its average volume of 3,867,271. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 0.92 and a beta of 1.83. Bath & Body Works has a twelve month low of $26.20 and a twelve month high of $52.99. The business's fifty day moving average is $37.45 and its two-hundred day moving average is $34.18.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.78 billion. Sell-side analysts forecast that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works announced that its Board of Directors has approved a share buyback program on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Bath & Body Works

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of Bath & Body Works by 6.8% during the 3rd quarter. Raymond James & Associates now owns 89,680 shares of the company's stock worth $2,863,000 after buying an additional 5,706 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Bath & Body Works during the 3rd quarter worth $343,000. New York State Teachers Retirement System raised its position in shares of Bath & Body Works by 18.1% during the 3rd quarter. New York State Teachers Retirement System now owns 266,235 shares of the company's stock valued at $8,498,000 after acquiring an additional 40,793 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Bath & Body Works by 5.3% in the 3rd quarter. Amalgamated Bank now owns 70,060 shares of the company's stock valued at $2,236,000 after purchasing an additional 3,553 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Bath & Body Works by 328.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company's stock worth $34,153,000 after purchasing an additional 820,379 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

About Bath & Body Works

Bath & Body Works, Inc is a specialty retailers and home to America's Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.