Bath & Body Works (NYSE:BBWI) Price Target Raised to $48.00 at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its price target lifted by equities research analysts at Wells Fargo & Company from $42.00 to $48.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 6.76% from the stock’s current price.

A number of other research firms have also recently weighed in on BBWI. The Goldman Sachs Group boosted their target price on shares of Bath & Body Works from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. BMO Capital Markets lifted their price target on shares of Bath & Body Works from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. TD Cowen boosted their target price on shares of Bath & Body Works from $35.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Robert W. Baird boosted their price objective on shares of Bath & Body Works from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, Piper Sandler upped their price objective on shares of Bath & Body Works from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.73.

Bath & Body Works Stock Down 0.4 %

Shares of Bath & Body Works stock traded down $0.17 during trading on Wednesday, reaching $44.96. The company’s stock had a trading volume of 516,565 shares, compared to its average volume of 2,727,369. Bath & Body Works has a 12-month low of $27.30 and a 12-month high of $50.34. The company has a market capitalization of $10.11 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 1.43 and a beta of 1.86. The business has a 50 day moving average price of $46.17 and a 200-day moving average price of $40.36.

Bath & Body Works (NYSE:BBWI) last posted its earnings results on Thursday, February 29th. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.85 by $0.21. Bath & Body Works had a negative return on equity of 37.01% and a net margin of 11.82%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the firm earned $1.86 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Research analysts predict that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, insider Thomas E. Mazurek sold 4,285 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $48.89, for a total value of $209,493.65. Following the completion of the transaction, the insider now owns 45,992 shares in the company, valued at approximately $2,248,548.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Federated Hermes Inc. grew its stake in shares of Bath & Body Works by 17.1% during the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the company’s stock valued at $70,000 after buying an additional 235 shares during the last quarter. Comerica Bank boosted its holdings in shares of Bath & Body Works by 0.9% during the 4th quarter. Comerica Bank now owns 33,091 shares of the company’s stock worth $1,428,000 after purchasing an additional 280 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Bath & Body Works by 72.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 805 shares of the company’s stock worth $35,000 after purchasing an additional 337 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Bath & Body Works by 3.3% during the third quarter. Commonwealth Equity Services LLC now owns 11,044 shares of the company’s stock worth $373,000 after buying an additional 348 shares during the period. Finally, CWM LLC lifted its position in Bath & Body Works by 7.3% in the fourth quarter. CWM LLC now owns 5,167 shares of the company’s stock valued at $223,000 after purchasing an additional 353 shares during the period. Hedge funds and other 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.