Bath & Body Works (NYSE:BBWI) Price Target Raised to $47.00 at Robert W. Baird

Bath & Body Works (NYSE:BBWI) had its price target raised by equities research analysts at Robert W. Baird from $45.00 to $47.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 30.76% from the company’s previous close.

Other analysts have also recently issued reports about the company. Argus reiterated a “hold” rating on shares of Bath & Body Works in a research report on Friday, January 10th. Morgan Stanley lowered their target price on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. TD Cowen upped their price objective 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. Finally, Piper Sandler lifted their target price on shares of Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.38.

Bath & Body Works Stock Performance

NYSE:BBWI opened at $35.95 on Friday. The company has a 50-day moving average of $37.76 and a 200-day moving average of $34.08. Bath & Body Works has a 52 week low of $26.20 and a 52 week high of $52.99. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 0.92 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.05. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Sell-side analysts forecast that Bath & Body Works will post 3.3 EPS for the current year.

Bath & Body Works declared that its board has initiated 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 repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BBWI. Golden State Wealth Management LLC acquired a new position in Bath & Body Works in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. raised its position in shares of Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after acquiring an additional 329 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Bath & Body Works by 5,270.0% in the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after purchasing an additional 1,054 shares during the period. UMB Bank n.a. boosted its position in shares of Bath & Body Works by 58.8% in the 4th 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. Finally, Lindbrook Capital LLC boosted its position in shares of Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after purchasing an additional 431 shares during the last quarter. 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.