Bath & Body Works (NYSE:BBWI) Price Target Raised to $42.00

Bath & Body Works (NYSE:BBWI) had its price objective increased by research analysts at TD Cowen from $40.00 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. TD Cowen’s price objective would suggest a potential upside of 16.93% from the company’s previous close.

Several other equities research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday. Bank of America reduced their price target on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Raymond James dropped their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. UBS Group reduced their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Citigroup lowered their price target on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.88.

Bath & Body Works Trading Up 2.0 %

NYSE BBWI opened at $35.92 on Tuesday. The company has a market capitalization of $7.87 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79. The business’s 50-day moving average price is $30.81 and its 200 day moving average price is $35.65. Bath & Body Works has a twelve month low of $26.20 and a twelve month high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data 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. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Equities analysts predict that Bath & Body Works will post 3.18 EPS for the current year.

Insider Activity at Bath & Body Works

In other news, CEO Gina Boswell purchased 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the purchase, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Lone Pine Capital LLC raised its position in shares of Bath & Body Works by 15.8% during the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after acquiring an additional 1,547,399 shares in the last quarter. Anomaly Capital Management LP acquired a new position in Bath & Body Works in the second quarter worth $113,995,000. FMR LLC increased its stake in Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after purchasing an additional 2,501,828 shares during the last quarter. Sound Shore Management Inc. CT raised its holdings in shares of Bath & Body Works by 10.0% during the second quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after purchasing an additional 189,889 shares during the period. Finally, KBC Group NV lifted its position in shares of 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. Institutional investors own 95.14% of the company’s stock.

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.