Wells Fargo & Company Upgrades Bath & Body Works (NYSE:BBWI) to “Overweight”

Bath & Body Works (NYSE:BBWI) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday, MarketBeat reports. The firm presently has a $48.00 target price on the stock, up from their previous target price of $42.00. Wells Fargo & Company‘s price target would indicate a potential upside of 29.94% from the stock’s current price.

A number of other research analysts also recently weighed in on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $42.00 price objective on shares of Bath & Body Works in a research report on Monday, November 25th. Barclays raised their price objective on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, November 26th. Morgan Stanley reduced their target price on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their price target on shares of Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Piper Sandler upped their price objective on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Bath & Body Works has an average rating of “Moderate Buy” and an average target price of $43.06.

Bath & Body Works Stock Up 0.2 %

Shares of BBWI opened at $36.94 on Friday. The stock’s 50-day moving average price is $35.60 and its 200-day moving average price is $33.81. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 1.43 and a beta of 1.82. Bath & Body Works has a 52 week low of $26.20 and a 52 week high of $52.99.

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

Institutional Investors Weigh In On Bath & Body Works

Hedge funds and other institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC boosted its stake in Bath & Body Works by 5,270.0% during the third 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 last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after acquiring an additional 900 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Bath & Body Works during the 3rd quarter valued at about $39,000. TD Private Client Wealth LLC grew its holdings in shares of Bath & Body Works by 24.2% in the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after purchasing an additional 331 shares during the period. Finally, Meeder Asset Management Inc. increased its position in Bath & Body Works by 480.3% during the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after purchasing an additional 1,436 shares during the last quarter. 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.