Bath & Body Works (NYSE:BBWI) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Bath & Body Works (NYSE:BBWIGet Rating) from a hold rating to a buy rating in a research report released on Friday morning, Zacks.com reports. The firm currently has $61.00 price objective on the stock.

According to Zacks, “Bath & Body Works is a specialty retailers and home to America’s Favorite Fragrances(R) offering exclusive fragrances for the body and home, fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap. Bath & Body Works, formerly known as L BRANDS INC, is based in COLUMBUS, Ohio. “

A number of other research firms have also recently commented on BBWI. Wells Fargo & Company cut their price target on shares of Bath & Body Works from $85.00 to $70.00 and set an overweight rating on the stock in a report on Tuesday, April 5th. Telsey Advisory Group cut their price target on shares of Bath & Body Works from $91.00 to $70.00 and set an outperform rating on the stock in a report on Thursday, February 24th. Cowen upgraded shares of Bath & Body Works from a market perform rating to an outperform rating and set a $82.00 price target on the stock in a report on Monday, May 2nd. Morgan Stanley increased their price target on shares of Bath & Body Works from $90.00 to $95.00 and gave the company an overweight rating in a report on Friday, February 25th. Finally, BMO Capital Markets cut their price target on shares of Bath & Body Works from $90.00 to $83.00 and set an outperform rating on the stock in a report on Thursday, February 24th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $78.63.

BBWI traded down $1.24 during midday trading on Friday, reaching $52.82. The company’s stock had a trading volume of 4,596,181 shares, compared to its average volume of 3,803,259. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 1.28 and a beta of 1.56. Bath & Body Works has a 1 year low of $44.17 and a 1 year high of $82.00. The stock’s 50-day moving average is $50.42 and its 200-day moving average is $60.41.

Bath & Body Works (NYSE:BBWIGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The company reported $2.30 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Bath & Body Works had a net margin of 14.13% and a negative return on equity of 115.32%. The business’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 earnings per share. Sell-side analysts anticipate that Bath & Body Works will post 4.63 earnings per share for the current year.

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

A number of hedge funds have recently made changes to their positions in BBWI. SG Americas Securities LLC purchased a new stake in Bath & Body Works in the 3rd quarter worth $816,000. Raymond James & Associates bought a new stake in shares of Bath & Body Works in the 3rd quarter worth about $3,747,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Bath & Body Works in the 3rd quarter worth about $2,384,000. Dupont Capital Management Corp bought a new stake in shares of Bath & Body Works in the 3rd quarter worth about $145,000. Finally, Advisor Group Holdings Inc. bought a new stake in shares of Bath & Body Works in the 3rd quarter worth about $3,313,000. Institutional investors and hedge funds own 97.11% of the company’s stock.

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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