Bath & Body Works’ (BBWI) “Outperform” Rating Reaffirmed at Raymond James

Bath & Body Works (NYSE:BBWI)‘s stock had its “outperform” rating reiterated by equities researchers at Raymond James in a research note issued on Tuesday,Benzinga reports. They presently have a $46.00 price target on the stock, up from their prior price target of $42.00. Raymond James’ price target indicates a potential upside of 15.30% from the company’s current price.

A number of other brokerages have also weighed in on BBWI. Morgan Stanley decreased their price target on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $42.00 to $48.00 in a research report on Friday, January 10th. Argus restated a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $47.00 in a report on Tuesday, February 18th. Finally, TD Cowen raised their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.44.

Bath & Body Works Stock Performance

NYSE BBWI traded up $0.03 during trading hours on Tuesday, hitting $39.90. 1,027,000 shares of the company’s stock were exchanged, compared to its average volume of 3,281,653. The business’s 50 day moving average is $37.73 and its 200-day moving average is $33.96. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99. The firm has a market capitalization of $8.64 billion, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.92 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts anticipate that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Institutional Trading of Bath & Body Works

A number of hedge funds and other institutional investors have recently made changes to their positions in BBWI. Vanguard Group Inc. grew its position in Bath & Body Works by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock worth $1,093,306,000 after buying an additional 208,036 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Bath & Body Works by 4.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company’s stock worth $396,815,000 after buying an additional 422,973 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Bath & Body Works by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock worth $329,317,000 after acquiring an additional 445,887 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Bath & Body Works by 35.6% during the 4th quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company’s stock valued at $200,768,000 after acquiring an additional 1,360,264 shares during the last quarter. Finally, Anomaly Capital Management LP raised its stake in shares of Bath & Body Works by 38.3% in the 4th quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company’s stock valued at $188,456,000 after acquiring an additional 1,346,752 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.