Bath & Body Works (NYSE:BBWI) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Bath & Body Works (NYSE:BBWI) had its target price boosted by Wells Fargo & Company from $38.00 to $42.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 9.92% from the stock’s previous close.

A number of other research firms also recently weighed in on BBWI. Morgan Stanley reduced their target price on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. The Goldman Sachs Group reduced their price objective on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. increased their price target on Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $50.00 price objective (down previously from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bath & Body Works has an average rating of “Moderate Buy” and an average target price of $42.50.

Bath & Body Works Trading Up 2.2 %

BBWI stock opened at $38.21 on Thursday. The stock has a market cap of $8.28 billion, a P/E ratio of 9.32, a P/E/G ratio of 1.44 and a beta of 1.83. The stock’s fifty day simple moving average is $32.59 and its two-hundred day simple moving average is $34.78. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.58 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. As a group, analysts forecast that Bath & Body Works will post 3.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the acquisition, the chief executive officer now owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

Several hedge funds have recently bought and sold shares of BBWI. Lone Pine Capital LLC increased its holdings in shares of Bath & Body Works by 15.8% in the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock worth $441,871,000 after buying an additional 1,547,399 shares during the last quarter. Anomaly Capital Management LP bought a new position in Bath & Body Works in the second quarter valued at $113,995,000. FMR LLC raised its position 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 in the last quarter. Sound Shore Management Inc. CT raised its position in 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 valued at $81,564,000 after purchasing an additional 189,889 shares in the last quarter. Finally, KBC Group NV boosted its holdings 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 purchasing an additional 1,683,160 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

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.