Morgan Stanley Trims Bath & Body Works (NYSE:BBWI) Target Price to $51.00

Bath & Body Works (NYSE:BBWI) had its price objective reduced by analysts at Morgan Stanley from $56.00 to $51.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 78.32% from the stock’s previous close.

A number of other brokerages have also issued reports on BBWI. Telsey Advisory Group reissued an “outperform” rating and issued a $53.00 price objective on shares of Bath & Body Works in a report on Wednesday, August 28th. Wells Fargo & Company dropped their price target on shares of Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Piper Sandler cut their price target on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. The Goldman Sachs Group decreased their price objective on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, UBS Group lowered their price objective on Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Bath & Body Works Price Performance

BBWI stock opened at $28.60 on Thursday. Bath & Body Works has a 1 year low of $27.30 and a 1 year high of $52.99. The firm has a market capitalization of $6.38 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.77. The business has a 50 day simple moving average of $34.42 and a 200-day simple moving average of $42.07.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Tuesday, June 4th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts expect that Bath & Body Works will post 3.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. TD Asset Management Inc lifted its stake in Bath & Body Works by 3.7% during the fourth quarter. TD Asset Management Inc now owns 976,278 shares of the company’s stock worth $42,136,000 after purchasing an additional 35,261 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Bath & Body Works by 28.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock worth $12,936,000 after purchasing an additional 56,764 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Bath & Body Works by 46.9% during the first quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock worth $6,572,000 after purchasing an additional 41,995 shares in the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of Bath & Body Works during the 4th quarter worth approximately $1,618,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Bath & Body Works by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock valued at $1,370,458,000 after buying an additional 1,102,124 shares in the last quarter. Hedge funds and other 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.