Bath & Body Works (NYSE:BBWI) Stock Price Expected to Rise, Piper Sandler Analyst Says

Bath & Body Works (NYSE:BBWI) had its price target upped by investment analysts at Piper Sandler from $35.00 to $36.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 0.22% from the company’s previous close.

BBWI has been the subject of several other research reports. Raymond James reduced their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft decreased their price target on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. JPMorgan Chase & Co. reduced their price objective on Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Bank of America decreased their target price on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $50.00 price target (down previously from $52.00) on shares of Bath & Body Works in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Bath & Body Works Trading Up 2.0 %

Shares of BBWI stock opened at $35.92 on Tuesday. The stock has a 50 day simple moving average of $30.81 and a 200-day simple moving average of $35.65. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. On average, equities analysts forecast that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, with a total value of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. This trade represents a 2.53 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Bath & Body Works

A number of hedge funds have recently added to or reduced their stakes in BBWI. Anomaly Capital Management LP purchased a new position in shares of Bath & Body Works during the 2nd quarter worth about $113,995,000. FMR LLC raised its stake in Bath & Body Works by 17,496.5% during the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after purchasing an additional 2,501,828 shares during the period. KBC Group NV raised its stake in Bath & Body Works by 9,023.5% during the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock worth $54,322,000 after purchasing an additional 1,683,160 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Bath & Body Works during the 3rd quarter valued at $50,483,000. Finally, Lone Pine Capital LLC grew its stake in shares of Bath & Body Works by 15.8% during the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after buying an additional 1,547,399 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

About Bath & Body Works

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