Bath & Body Works (NYSE:BBWI) PT Lowered to $61.00 at Morgan Stanley

Bath & Body Works (NYSE:BBWI – Get Rating) had its target price reduced by equities research analysts at Morgan Stanley from $76.00 to $61.00 in a report issued on Friday, The Fly reports. Morgan Stanley’s price target would suggest a potential upside of 64.73% from the stock’s previous close.

Several other equities analysts have also issued reports on BBWI. Piper Sandler lowered shares of Bath & Body Works from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $48.00 to $37.00 in a report on Thursday, April 20th. Jefferies Financial Group upped their price objective on shares of Bath & Body Works from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Credit Suisse Group upped their price target on shares of Bath & Body Works from $42.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, February 24th. Raymond James downgraded shares of Bath & Body Works from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $50.00 to $48.00 in a research report on Thursday, April 6th. Finally, Citigroup increased their price target on shares of Bath & Body Works from $37.00 to $38.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.25.

Bath & Body Works Stock Performance

Bath & Body Works stock opened at $37.03 on Friday. The company has a 50 day moving average price of $35.21 and a 200-day moving average price of $39.43. Bath & Body Works has a fifty-two week low of $25.75 and a fifty-two week high of $49.55. The company has a market capitalization of $8.47 billion, a PE ratio of 11.72, a P/E/G ratio of 1.03 and a beta of 1.70.

Bath & Body Works (NYSE:BBWI – Get Rating) last posted its quarterly earnings results on Thursday, May 18th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Bath & Body Works had a net margin of 9.67% and a negative return on equity of 29.65%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, analysts forecast that Bath & Body Works will post 2.92 earnings per share for the current year.

Insider Buying and Selling at Bath & Body Works

In other news, CFO Wendy C. Arlin sold 1,625 shares of Bath & Body Works stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $38.29, for a total value of $62,221.25. Following the transaction, the chief financial officer now owns 91,072 shares of the company’s stock, valued at $3,487,146.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

Several institutional investors and hedge funds have recently bought and sold shares of BBWI. State of Alaska Department of Revenue raised its holdings in Bath & Body Works by 0.8% during the 4th quarter. State of Alaska Department of Revenue now owns 31,965 shares of the company’s stock worth $1,347,000 after purchasing an additional 265 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Bath & Body Works by 22.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,525 shares of the company’s stock valued at $64,000 after purchasing an additional 276 shares during the last quarter. Captrust Financial Advisors increased its position in Bath & Body Works by 10.4% during the 1st quarter. Captrust Financial Advisors now owns 3,124 shares of the company’s stock worth $149,000 after buying an additional 295 shares during the period. State of Michigan Retirement System increased its position in shares of Bath & Body Works by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 62,071 shares of the company’s stock worth $2,616,000 after purchasing an additional 300 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Bath & Body Works by 1.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 19,401 shares of the company’s stock worth $818,000 after purchasing an additional 305 shares during the period. Institutional investors own 96.34% of the company’s stock.

About Bath & Body Works

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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.