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

Bath & Body Works (NYSE:BBWI) had its target price upped by equities researchers at Wells Fargo & Company from $42.00 to $48.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 5.26% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. BMO Capital Markets increased their price objective 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. Barclays downgraded shares of Bath & Body Works from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $37.00 to $45.00 in a research report on Thursday, January 4th. Telsey Advisory Group restated an “outperform” rating and set a $53.00 price objective on shares of Bath & Body Works in a research report on Friday, April 5th. TD Cowen increased their price objective 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. Finally, Piper Sandler increased their price objective on shares of Bath & Body Works from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Bath & Body Works currently has a consensus rating of “Hold” and an average price target of $46.73.

Bath & Body Works Stock Performance

Shares of NYSE BBWI opened at $45.60 on Wednesday. The firm’s 50 day moving average price is $46.21 and its 200-day moving average price is $40.43. The company has a market cap of $10.26 billion, a PE ratio of 11.84, a P/E/G ratio of 1.46 and a beta of 1.86. Bath & Body Works has a 52-week low of $27.30 and a 52-week high of $50.34.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Thursday, February 29th. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.21. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 earnings per share. On average, analysts forecast that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.

Insider Transactions at Bath & Body Works

In other news, insider Thomas E. Mazurek sold 4,285 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total value of $209,493.65. Following the completion of the sale, the insider now directly owns 45,992 shares of the company’s stock, valued at $2,248,548.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Bath & Body Works

Hedge funds and other institutional investors have recently modified their holdings of the company. Front Row Advisors LLC purchased a new stake in shares of Bath & Body Works in the third quarter worth $25,000. Trust Co. of Vermont purchased a new position in Bath & Body Works during the third quarter valued at $27,000. Denali Advisors LLC purchased a new position in Bath & Body Works during the fourth quarter valued at $27,000. GAMMA Investing LLC purchased a new position in Bath & Body Works during the fourth quarter valued at $27,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Bath & Body Works during the fourth quarter valued at $35,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.