TD Cowen Forecasts Strong Price Appreciation for Bath & Body Works (NYSE:BBWI) Stock

Bath & Body Works (NYSE:BBWI) had its price target increased by investment analysts at TD Cowen from $42.00 to $48.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target suggests a potential upside of 25.62% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Piper Sandler raised their target price on Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. UBS Group reduced their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Wells Fargo & Company lifted their price target on shares of Bath & Body Works from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday. Robert W. Baird cut their price objective on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Finally, Citigroup cut their price target on Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Bath & Body Works Stock Up 2.2 %

Shares of BBWI stock opened at $38.21 on Thursday. The company has a 50 day moving average price of $32.59 and a 200-day moving average price of $34.78. Bath & Body Works has a 52 week low of $26.20 and a 52 week high of $52.99. The firm has a market capitalization of $8.28 billion, a PE ratio of 9.32, a P/E/G ratio of 1.44 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.58 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 EPS. Analysts anticipate that Bath & Body Works will post 3.26 earnings per share for the current year.

Insider Buying and Selling

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was bought at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. The trade was a 2.53 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Bath & Body Works

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBWI. Anomaly Capital Management LP acquired a new position in shares of Bath & Body Works in the second quarter worth $113,995,000. FMR LLC boosted its holdings in Bath & Body Works by 17,496.5% in the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after purchasing an additional 2,501,828 shares during the period. KBC Group NV grew its stake in Bath & Body Works by 9,023.5% during the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after purchasing an additional 1,683,160 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Bath & Body Works during the 3rd quarter worth about $50,483,000. Finally, Lone Pine Capital LLC raised its position in Bath & Body Works by 15.8% in the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after purchasing an additional 1,547,399 shares in the last quarter. Hedge funds and other institutional investors 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.