Bath & Body Works (NYSE:BBWI) Given New $36.00 Price Target at Citigroup

Bath & Body Works (NYSE:BBWI - Get Free Report) had its price objective reduced by stock analysts at Citigroup from $48.00 to $36.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 35.63% from the company's current price.

Several other research firms also recently weighed in on BBWI. Raymond James reaffirmed an "outperform" rating and issued a $46.00 price objective (up previously from $42.00) on shares of Bath & Body Works in a report on Tuesday, February 25th. TD Cowen upped their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Robert W. Baird raised their price objective on shares of Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Telsey Advisory Group restated an "outperform" rating and issued a $43.00 target price on shares of Bath & Body Works in a research report on Thursday, February 27th. Finally, Piper Sandler lifted their price target on Bath & Body Works from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.06.

Bath & Body Works Stock Down 3.9 %

NYSE BBWI traded down $1.08 on Monday, hitting $26.54. The stock had a trading volume of 7,878,161 shares, compared to its average volume of 4,668,577. The company's 50-day moving average is $32.99 and its two-hundred day moving average is $33.98. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 6.47, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works has a one year low of $24.96 and a one year high of $52.99.

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

Bath & Body Works declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Bath & Body Works

Several institutional investors and hedge funds have recently bought and sold shares of BBWI. SRS Capital Advisors Inc. grew its position in Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company's stock valued at $26,000 after purchasing an additional 329 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Bath & Body Works during the 4th quarter valued at $26,000. UMB Bank n.a. grew its holdings in shares of Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company's stock valued at $35,000 after acquiring an additional 335 shares in the last quarter. Lindbrook Capital LLC increased its stake in shares of Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after acquiring an additional 431 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Bath & Body Works by 135.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company's stock worth $39,000 after acquiring an additional 582 shares in 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 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.