Bath & Body Works (NYSE:BBWI) Rating Lowered to "Underweight" at Barclays

Bath & Body Works (NYSE:BBWI - Get Free Report) was downgraded by research analysts at Barclays from an "equal weight" rating to an "underweight" rating in a research report issued on Friday, MarketBeat Ratings reports. They currently have a $28.00 price objective on the stock, down from their previous price objective of $31.00. Barclays's price objective indicates a potential downside of 6.60% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley reduced their target price on shares of Bath & Body Works from $56.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, September 5th. Citigroup lowered their target price on Bath & Body Works from $48.00 to $35.00 and set a "neutral" rating for the company in a research report on Tuesday, August 20th. UBS Group reduced their price target on Bath & Body Works from $52.00 to $38.00 and set a "neutral" rating on the stock in a research report on Thursday, August 29th. BMO Capital Markets restated an "outperform" rating and set a $50.00 price objective (down from $52.00) on shares of Bath & Body Works in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. reduced their target price on Bath & Body Works from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Bath & Body Works presently has a consensus rating of "Moderate Buy" and an average price target of $42.44.

Bath & Body Works Stock Down 5.6 %

Shares of BBWI traded down $1.77 during midday trading on Friday, hitting $29.98. The company's stock had a trading volume of 9,931,233 shares, compared to its average volume of 3,785,391. Bath & Body Works has a one year low of $26.20 and a one year high of $52.99. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 0.99 and a beta of 1.79. The company's fifty day simple moving average is $30.02 and its two-hundred day simple moving average is $37.08.

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

Insiders Place Their Bets

In other Bath & Body Works news, CEO Gina Boswell purchased 6,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BBWI. Anomaly Capital Management LP purchased a new stake in shares of Bath & Body Works during the 2nd quarter valued at $113,995,000. KBC Group NV lifted its position in Bath & Body Works by 9,023.5% in the 3rd 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 last quarter. Lone Pine Capital LLC boosted its stake in 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 buying an additional 1,547,399 shares in the last quarter. Vanguard Group Inc. grew its position in Bath & Body Works by 4.2% during the first quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company's stock valued at $1,370,458,000 after acquiring an additional 1,102,124 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Bath & Body Works by 723.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,167,554 shares of the company's stock worth $37,268,000 after acquiring an additional 1,025,757 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

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.