Bath & Body Works (NYSE:BBWI) Stock Rating Upgraded by Cowen

Bath & Body Works (NYSE:BBWIGet Rating) was upgraded by Cowen from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage presently has a $82.00 target price on the stock. Cowen’s target price would indicate a potential upside of 55.04% from the stock’s current price.

BBWI has been the topic of a number of other research reports. Morgan Stanley lifted their target price on Bath & Body Works from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, February 25th. Telsey Advisory Group dropped their target price on Bath & Body Works from $91.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 24th. JPMorgan Chase & Co. lowered their price target on Bath & Body Works from $105.00 to $81.00 and set an “overweight” rating on the stock in a research report on Thursday, February 24th. Wells Fargo & Company lowered their price target on Bath & Body Works from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. Finally, Robert W. Baird lowered their price target on Bath & Body Works from $90.00 to $75.00 in a research report on Friday, February 25th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $79.05.

NYSE:BBWI opened at $52.89 on Monday. Bath & Body Works has a fifty-two week low of $44.17 and a fifty-two week high of $82.00. The stock has a market capitalization of $12.61 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 1.24 and a beta of 1.76. The business’s 50-day simple moving average is $50.30 and its 200-day simple moving average is $60.75.

Bath & Body Works (NYSE:BBWIGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The company reported $2.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.03. Bath & Body Works had a negative return on equity of 115.32% and a net margin of 14.13%. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the business posted $1.96 EPS. Bath & Body Works’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts anticipate that Bath & Body Works will post 4.59 earnings per share for the current year.

In other Bath & Body Works news, CFO Wendy C. Arlin sold 6,000 shares of the stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $55.00, for a total value of $330,000.00. Following the transaction, the chief financial officer now owns 98,888 shares in the company, valued at $5,438,840. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of BBWI. Lone Pine Capital LLC purchased a new stake in shares of Bath & Body Works in the third quarter worth approximately $1,531,646,000. BlackRock Inc. purchased a new stake in shares of Bath & Body Works during the third quarter valued at approximately $1,184,238,000. Egerton Capital UK LLP purchased a new stake in shares of Bath & Body Works during the third quarter valued at approximately $889,125,000. Steadfast Capital Management LP purchased a new stake in shares of Bath & Body Works during the third quarter valued at approximately $468,997,000. Finally, Primecap Management Co. CA purchased a new stake in shares of Bath & Body Works during the third quarter valued at approximately $382,655,000. 97.11% of the stock is owned by hedge funds and other institutional investors.

About Bath & Body Works (Get Rating)

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. The company sells its products under the Bath & Body Works, White Barn, and other brand names through specialty retail stores and websites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.

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