Bath & Body Works (NYSE:BBWI) Receives “Outperform” Rating from Telsey Advisory Group

Bath & Body Works (NYSE:BBWI)‘s stock had its “outperform” rating reissued by stock analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $43.00 price target on the stock. Telsey Advisory Group’s price target points to a potential upside of 18.72% from the stock’s previous close.

Several other equities research analysts also recently issued reports on BBWI. Cowen reaffirmed a “buy” rating on shares of Bath & Body Works in a research note on Thursday. JPMorgan Chase & Co. raised shares of Bath & Body Works from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $41.00 to $47.00 in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Raymond James reissued an “outperform” rating and set a $46.00 price objective (up from $42.00) on shares of Bath & Body Works in a report on Tuesday. Finally, Piper Sandler raised their price objective on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.38.

Bath & Body Works Price Performance

Bath & Body Works stock opened at $36.22 on Thursday. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.83. The firm’s fifty day moving average price is $37.70 and its 200 day moving average price is $34.12.

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

Bath & Body Works declared that its board has initiated a share repurchase plan on Thursday, February 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Bath & Body Works

A number of hedge funds and other institutional investors have recently made changes to their positions in BBWI. Golden State Wealth Management LLC bought a new stake in shares of Bath & Body Works during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. raised its position in shares of Bath & Body Works by 99.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after buying an additional 329 shares in the last quarter. True Wealth Design LLC raised its position in shares of Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock worth $34,000 after buying an additional 1,054 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Bath & Body Works by 58.8% in the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after purchasing an additional 335 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after purchasing an additional 431 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

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.