JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Bath & Body Works (NYSE:BBWI) Stock

Bath & Body Works (NYSE:BBWI) had its price target increased by analysts at JPMorgan Chase & Co. from $39.00 to $41.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 10.88% from the company’s current price.

Several other equities research analysts have also recently weighed in on BBWI. Wells Fargo & Company raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. Argus restated a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their target price on Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. TD Cowen boosted their price target on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Piper Sandler raised their price objective on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.19.

Bath & Body Works Stock Down 0.8 %

Shares of NYSE:BBWI opened at $36.98 on Friday. The business’s 50 day moving average is $36.86 and its 200 day moving average is $33.64. The stock has a market cap of $8.01 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 1.01 and a beta of 1.82. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99.

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

Institutional Trading of Bath & Body Works

Several large investors have recently added to or reduced their stakes in BBWI. FMR LLC lifted its stake in shares of Bath & Body Works by 17,496.5% in the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after buying an additional 2,501,828 shares in the last quarter. KBC Group NV raised its holdings in Bath & Body Works by 9,023.5% in the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after acquiring an additional 1,683,160 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Bath & Body Works in the 3rd quarter worth approximately $50,483,000. Forest Avenue Capital Management LP boosted its holdings in shares of 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 worth $46,851,000 after purchasing an additional 235,173 shares during the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Bath & Body Works by 111.8% in the third quarter. Verition Fund Management LLC now owns 1,345,777 shares of the company’s stock valued at $42,957,000 after purchasing an additional 710,333 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Bath & Body Works Company Profile

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.