Wells Fargo & Company Forecasts Strong Price Appreciation for Bath & Body Works (NYSE:BBWI) Stock

Bath & Body Works (NYSE:BBWI) had its price objective increased by investment analysts at Wells Fargo & Company from $38.00 to $42.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 9.92% from the stock’s previous close.

Several other research analysts also recently issued reports on BBWI. Deutsche Bank Aktiengesellschaft upped their price objective on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Barclays raised their price target on shares of Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, November 26th. BMO Capital Markets reissued an “outperform” rating and issued a $50.00 price objective (down previously from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. The Goldman Sachs Group lowered their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, Bank of America reduced their price target on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Bath & Body Works Stock Up 2.2 %

Bath & Body Works stock opened at $38.21 on Thursday. The stock has a market cap 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 has a 12-month low of $26.20 and a 12-month high of $52.99. The business’s 50-day moving average price is $32.59 and its two-hundred day moving average price is $34.78.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The company had revenue of $1.61 billion for 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 firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 EPS. As a group, analysts expect that Bath & Body Works will post 3.26 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Gina Boswell bought 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average cost of $29.64 per share, with a total value of $177,840.00. Following the transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at approximately $7,202,134.68. This represents a 2.53 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BBWI. True Wealth Design LLC boosted its position in shares of Bath & Body Works by 5,270.0% during the third quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after buying an additional 1,054 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after acquiring an additional 900 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Bath & Body Works during the 3rd quarter worth $39,000. TD Private Client Wealth LLC grew its stake in shares of Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after acquiring an additional 331 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Bath & Body Works by 480.3% in the third quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock valued at $55,000 after purchasing an additional 1,436 shares during the last quarter. 95.14% of the stock is owned by 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.