B. Riley Trims Bath & Body Works (NYSE:BBWI) Target Price to $67.00

Bath & Body Works (NYSE:BBWIGet Rating) had its price target lowered by B. Riley from $76.00 to $67.00 in a research note issued to investors on Friday, The Fly reports. B. Riley’s price target points to a potential upside of 67.37% from the company’s previous close. B. Riley also issued estimates for Bath & Body Works’ Q1 2023 earnings at $0.54 EPS, Q3 2023 earnings at $0.92 EPS, Q4 2023 earnings at $2.58 EPS, FY2023 earnings at $4.70 EPS and FY2024 earnings at $5.43 EPS.

BBWI has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price target on Bath & Body Works from $81.00 to $67.00 in a report on Monday. Morgan Stanley reduced their target price on Bath & Body Works from $95.00 to $64.00 in a research report on Friday. Robert W. Baird cut their price objective on Bath & Body Works from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday. MKM Partners cut their price objective on Bath & Body Works from $94.00 to $91.00 and set a “buy” rating for the company in a report on Thursday, February 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Bath & Body Works from $78.00 to $61.00 in a research note on Thursday. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bath & Body Works presently has a consensus rating of “Buy” and an average price target of $70.85.

BBWI opened at $40.03 on Friday. The business’s fifty day moving average is $50.14 and its 200-day moving average is $59.01. The firm has a market cap of $9.55 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. Bath & Body Works has a 52-week low of $38.35 and a 52-week high of $82.00.

Bath & Body Works (NYSE:BBWIGet Rating) last released its earnings results on Wednesday, May 18th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.53 by $0.11. Bath & Body Works had a negative return on equity of 83.19% and a net margin of 15.41%. As a group, equities analysts anticipate that Bath & Body Works will post 4.56 EPS for the current year.

In related news, CFO Wendy C. Arlin sold 6,000 shares of Bath & Body Works stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $55.00, for a total value of $330,000.00. Following the completion of the transaction, the chief financial officer now owns 98,888 shares in the company, valued at $5,438,840. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baader Bank INC purchased a new position in shares of Bath & Body Works during the first quarter valued at approximately $1,327,000. Worldquant Millennium Advisors LLC purchased a new position in shares of Bath & Body Works during the first quarter valued at approximately $18,662,000. Walleye Capital LLC purchased a new position in shares of Bath & Body Works during the first quarter valued at approximately $272,000. Wealthfront Advisers LLC boosted its position in shares of Bath & Body Works by 2.7% during the first quarter. Wealthfront Advisers LLC now owns 132,239 shares of the company’s stock valued at $6,321,000 after buying an additional 3,491 shares during the period. Finally, KB Financial Partners LLC boosted its position in shares of Bath & Body Works by 30.5% during the first quarter. KB Financial Partners LLC now owns 9,370 shares of the company’s stock valued at $448,000 after buying an additional 2,191 shares during the period. Institutional investors own 97.11% of the company’s stock.

Bath & Body Works Company Profile (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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