Bath & Body Works (NYSE:BBWI) Price Target Raised to $36.00

Bath & Body Works (NYSE:BBWI) had its target price raised by equities researchers at Piper Sandler from $35.00 to $36.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 0.61% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Telsey Advisory Group reiterated an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research report on Monday. Evercore ISI cut their price target on shares of Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday, August 28th. Raymond James lowered their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. cut their target price on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.06.

Bath & Body Works Stock Performance

Shares of BBWI opened at $35.78 on Tuesday. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99. The firm has a fifty day moving average of $30.69 and a 200-day moving average of $35.74. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 0.98 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. 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 bought 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, 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. The trade was a 2.53 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBWI. CWM LLC increased its stake in shares of Bath & Body Works by 6.6% in the 2nd quarter. CWM LLC now owns 5,072 shares of the company’s stock valued at $198,000 after buying an additional 314 shares during the period. Northwest Bank & Trust Co increased its position in Bath & Body Works by 2.5% in the first quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock worth $655,000 after purchasing an additional 315 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Bath & Body Works by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after purchasing an additional 322 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after purchasing an additional 331 shares during the last quarter. Finally, Citizens & Northern Corp lifted its position in Bath & Body Works by 1.7% during the 2nd quarter. Citizens & Northern Corp now owns 29,465 shares of the company’s stock valued at $1,151,000 after purchasing an additional 487 shares during the period. Institutional investors and hedge funds 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.