Bath & Body Works (NYSE:BBWI) Raised to "Overweight" at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI - Get Free Report) was upgraded by equities research analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a $48.00 price objective on the stock, up from their previous price objective of $42.00. Wells Fargo & Company's target price indicates a potential upside of 31.69% from the stock's previous close.

Several other equities research analysts also recently weighed in on the stock. Piper Sandler increased their target price on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a "neutral" rating in a research note on Monday. Telsey Advisory Group reissued an "outperform" rating and set a $42.00 price target on shares of Bath & Body Works in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. TD Cowen increased their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Finally, Morgan Stanley cut their price target on shares of Bath & Body Works from $51.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $43.06.

Bath & Body Works Trading Down 1.4 %

Shares of BBWI traded down $0.52 during mid-day trading on Friday, hitting $36.45. 3,796,599 shares of the company's stock were exchanged, compared to its average volume of 3,314,983. Bath & Body Works has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The firm has a market capitalization of $7.89 billion, a P/E ratio of 8.89, a P/E/G ratio of 1.43 and a beta of 1.82. The business's 50 day moving average is $35.75 and its two-hundred day moving average is $33.77.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its earnings results on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business's quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Bath & Body Works will post 3.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in Bath & Body Works during the third quarter worth approximately $8,129,000. Forest Avenue Capital Management LP boosted its position in Bath & Body Works by 19.1% during the third quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company's stock worth $46,851,000 after acquiring an additional 235,173 shares during the last quarter. Anthracite Investment Company Inc. acquired a new stake in Bath & Body Works during the third quarter worth approximately $2,921,000. Principal Financial Group Inc. boosted its position in Bath & Body Works by 328.7% during the third quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company's stock worth $34,153,000 after acquiring an additional 820,379 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its position in Bath & Body Works by 1,078.2% during the third quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company's stock worth $1,575,000 after acquiring an additional 45,144 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other 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.