Bath & Body Works (NYSE:BBWI) Price Target Cut to $36.00 by Analysts at Citigroup

Bath & Body Works (NYSE:BBWI) had its target price cut by equities researchers at Citigroup from $48.00 to $36.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 41.54% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Barclays decreased their price objective on shares of Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Cowen reissued a “buy” rating on shares of Bath & Body Works in a report on Thursday, February 27th. Piper Sandler raised their price target on Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Argus reiterated a “hold” rating on shares of Bath & Body Works in a research note on Friday, January 10th. Finally, Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $42.00 to $48.00 in a report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Bath & Body Works presently has an average rating of “Moderate Buy” and a consensus price target of $44.31.

Bath & Body Works Price Performance

Bath & Body Works stock opened at $25.43 on Monday. The stock’s fifty day moving average is $33.76 and its two-hundred day moving average is $34.06. The stock has a market cap of $5.45 billion, a PE ratio of 6.20, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works has a 1-year low of $24.96 and a 1-year high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.05. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. On average, research analysts expect that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works announced that its Board of Directors has approved a share buyback plan on Thursday, February 27th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Bath & Body Works

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its position in shares of Bath & Body Works by 12.4% during the 1st quarter. Rhumbline Advisers now owns 577,153 shares of the company’s stock worth $17,499,000 after purchasing an additional 63,607 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Bath & Body Works by 3,018.9% in the first quarter. GAMMA Investing LLC now owns 138,290 shares of the company’s stock valued at $4,561,000 after buying an additional 133,856 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Bath & Body Works by 359.6% during the 1st quarter. Versant Capital Management Inc now owns 9,840 shares of the company’s stock worth $298,000 after buying an additional 7,699 shares during the last quarter. 111 Capital purchased a new stake in shares of Bath & Body Works in the 4th quarter worth about $424,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Bath & Body Works by 179.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,030 shares of the company’s stock worth $1,164,000 after buying an additional 19,297 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Bath & Body Works Company Profile

Bath & Body Works, Inc is a specialty retailers and home to America’s Favorite Fragrances, offering a breadth of exclusive fragrances for the body and home, including the selling collections for fine fragrance mist, body lotion and body cream, 3-wick candles, home fragrance diffusers and liquid hand soap.