Bath & Body Works (NYSE:BBWI - Get Free Report) had its price target lowered by equities researchers at The Goldman Sachs Group from $49.00 to $42.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's target price suggests a potential upside of 47.97% from the stock's current price.
Several other brokerages have also recently weighed in on BBWI. Wells Fargo & Company upgraded shares of Bath & Body Works from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. Cowen reissued a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Barclays dropped their price target on shares of Bath & Body Works from $43.00 to $38.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Piper Sandler raised shares of Bath & Body Works from a "neutral" rating to an "overweight" rating and decreased their price objective for the stock from $38.00 to $35.00 in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. cut their target price on Bath & Body Works from $47.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.69.
Read Our Latest Analysis on Bath & Body Works
Bath & Body Works Stock Up 2.4 %
BBWI stock traded up $0.68 during midday trading on Tuesday, hitting $28.39. The company's stock had a trading volume of 596,543 shares, compared to its average volume of 4,730,835. Bath & Body Works has a 12 month low of $24.96 and a 12 month high of $52.99. The company has a 50 day moving average of $31.98 and a two-hundred day moving average of $33.88. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth ratio of 0.92 and a beta of 1.69.
Bath & Body Works (NYSE:BBWI - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.05. The company had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. On average, analysts anticipate that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.
Bath & Body Works announced that its board has initiated a share repurchase plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.
Hedge Funds Weigh In On Bath & Body Works
A number of institutional investors have recently added to or reduced their stakes in BBWI. Golden State Wealth Management LLC acquired a new stake in shares of Bath & Body Works in the 4th quarter worth $26,000. SRS Capital Advisors Inc. grew its holdings in shares of Bath & Body Works by 99.7% in 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 during the period. UMB Bank n.a. increased its position in Bath & Body Works by 58.8% during the fourth quarter. UMB Bank n.a. now owns 905 shares of the company's stock worth $35,000 after purchasing an additional 335 shares during the last quarter. Lindbrook Capital LLC raised its stake in Bath & Body Works by 81.9% during the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company's stock worth $37,000 after purchasing an additional 431 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Bath & Body Works in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 95.14% of the company's stock.
Bath & Body Works Company Profile
(
Get Free Report)
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.
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