Bath & Body Works (NYSE:BBWI) Given New $60.00 Price Target at Cowen

Bath & Body Works (NYSE:BBWIGet Rating) had its price target lowered by research analysts at Cowen from $82.00 to $60.00 in a research note issued on Friday, The Fly reports. Cowen’s price target would suggest a potential upside of 49.89% from the company’s previous close.

BBWI has been the topic of several other research reports. MKM Partners decreased their price target on shares of Bath & Body Works from $94.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, February 24th. Barclays decreased their target price on Bath & Body Works from $53.00 to $40.00 in a report on Friday. Morgan Stanley reduced their target price on Bath & Body Works from $95.00 to $64.00 in a report on Friday. Robert W. Baird dropped their price target on Bath & Body Works from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on Bath & Body Works from $81.00 to $67.00 in a report on Monday. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $70.85.

BBWI stock opened at $40.03 on Friday. Bath & Body Works has a fifty-two week low of $38.35 and a fifty-two week high of $82.00. The firm’s 50-day simple moving average is $50.14 and its 200 day simple moving average is $59.01. The stock has a market cap of $9.55 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56.

Bath & Body Works (NYSE:BBWIGet Rating) last posted its quarterly earnings data on Wednesday, May 18th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.11. Bath & Body Works had a net margin of 15.41% and a negative return on equity of 83.19%. On average, analysts expect that Bath & Body Works will post 4.56 earnings per share for the current fiscal year.

In other news, CFO Wendy C. Arlin sold 6,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 98,888 shares of the company’s stock, valued at $5,438,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of BBWI. Lone Pine Capital LLC bought a new position in Bath & Body Works during the third quarter valued at approximately $1,531,646,000. Steadfast Capital Management LP acquired a new position in Bath & Body Works during the third quarter valued at approximately $468,997,000. Primecap Management Co. CA acquired a new position in Bath & Body Works during the third quarter valued at approximately $382,655,000. Geode Capital Management LLC acquired a new position in Bath & Body Works during the third quarter valued at approximately $306,482,000. Finally, Candlestick Capital Management LP acquired a new position in Bath & Body Works during the third quarter valued at approximately $267,351,000. 97.11% of the stock is currently 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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