Bath & Body Works (NYSE:BBWI) Price Target Raised to $48.00 at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its price target upped by equities researchers at Wells Fargo & Company from $42.00 to $48.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 5.26% from the stock’s previous close.

BBWI has been the topic of a number of other reports. Barclays downgraded shares of Bath & Body Works from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $37.00 to $45.00 in a report on Thursday, January 4th. BMO Capital Markets increased their price target on shares of Bath & Body Works from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Robert W. Baird increased their price target on shares of Bath & Body Works from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. UBS Group increased their price target on shares of Bath & Body Works from $46.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, Piper Sandler increased their price objective on shares of Bath & Body Works from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.73.

Bath & Body Works Price Performance

NYSE:BBWI opened at $45.60 on Wednesday. The firm has a market capitalization of $10.26 billion, a P/E ratio of 11.84, a PEG ratio of 1.46 and a beta of 1.86. Bath & Body Works has a 1-year low of $27.30 and a 1-year high of $50.34. The company’s fifty day moving average price is $46.21 and its 200-day moving average price is $40.43.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Thursday, February 29th. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.21. Bath & Body Works had a net margin of 11.82% and a negative return on equity of 37.01%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Insider Activity

In other news, insider Thomas E. Mazurek sold 4,285 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $48.89, for a total value of $209,493.65. Following the completion of the sale, the insider now directly owns 45,992 shares in the company, valued at $2,248,548.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

A number of institutional investors have recently made changes to their positions in BBWI. Norges Bank acquired a new stake in shares of Bath & Body Works during the fourth quarter valued at about $101,669,000. Darsana Capital Partners LP acquired a new stake in shares of Bath & Body Works during the third quarter valued at about $76,050,000. Lone Pine Capital LLC increased its position in shares of Bath & Body Works by 20.0% during the fourth quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock valued at $450,973,000 after acquiring an additional 1,742,471 shares during the last quarter. Sound Shore Management Inc. CT increased its position in shares of Bath & Body Works by 379.2% during the fourth quarter. Sound Shore Management Inc. CT now owns 1,903,258 shares of the company’s stock valued at $82,145,000 after acquiring an additional 1,506,110 shares during the last quarter. Finally, Cadian Capital Management LP acquired a new stake in shares of Bath & Body Works during the fourth quarter valued at about $58,266,000. 95.14% of the stock is currently 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.