Bath & Body Works (NYSE:BBWI) Price Target Raised to $38.00

Bath & Body Works (NYSE:BBWI) had its price objective boosted by research analysts at Wells Fargo & Company from $32.00 to $38.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 5.79% from the stock’s previous close.

Several other equities analysts also recently issued reports on BBWI. Evercore ISI cut their price objective on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, August 28th. Piper Sandler lifted their price target on Bath & Body Works from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday. BMO Capital Markets reissued an “outperform” rating and set a $50.00 price objective (down previously from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Robert W. Baird decreased their price target on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.88.

Bath & Body Works Stock Performance

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

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping 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 firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, sell-side analysts anticipate that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were bought at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by insiders.

Institutional Trading of Bath & Body Works

A number of large investors have recently made changes to their positions in BBWI. First Community Trust NA acquired a new position in Bath & Body Works in the second quarter valued at about $30,000. True Wealth Design LLC raised its holdings in Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Bath & Body Works by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after buying an additional 900 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Bath & Body Works in the third quarter valued at approximately $39,000. Finally, TD Private Client Wealth LLC increased its position in shares of Bath & Body Works by 24.2% during the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after acquiring an additional 331 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Company Profile

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.