Bath & Body Works (NYSE:BBWI) Earns Hold Rating from Argus

Bath & Body Works (NYSE:BBWI)‘s stock had its “hold” rating restated by investment analysts at Argus in a note issued to investors on Friday,Benzinga reports.

BBWI has been the topic of several other reports. Wells Fargo & Company upgraded Bath & Body Works from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $42.00 to $48.00 in a report on Friday. Barclays raised their price objective on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, November 26th. Piper Sandler upped their price objective on Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. TD Cowen lifted their price target on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Bath & Body Works in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.06.

Bath & Body Works Trading Down 1.4 %

Shares of Bath & Body Works stock opened at $36.45 on Friday. The stock has a market capitalization of $7.89 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 1.43 and a beta of 1.82. The firm has a fifty day simple moving average of $35.75 and a 200-day simple moving average of $33.72. Bath & Body Works has a 1-year low of $26.20 and a 1-year high of $52.99.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new position in shares of Bath & Body Works during the third quarter valued at approximately $8,129,000. Forest Avenue Capital Management LP increased its position in Bath & Body Works by 19.1% during the 3rd quarter. Forest Avenue Capital Management LP now owns 1,467,763 shares of the company’s stock valued at $46,851,000 after buying an additional 235,173 shares in the last quarter. Anthracite Investment Company Inc. purchased a new stake in Bath & Body Works during the 3rd quarter worth approximately $2,921,000. Principal Financial Group Inc. lifted its position in Bath & Body Works by 328.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock worth $34,153,000 after acquiring an additional 820,379 shares during the period. Finally, iA Global Asset Management Inc. raised its position in Bath & Body Works by 1,078.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 49,331 shares of the company’s stock worth $1,575,000 after buying an additional 45,144 shares during the last quarter. 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.