Bath & Body Works (NYSE:BBWI) Upgraded to Equal Weight at Barclays

Bath & Body Works (NYSE:BBWI) was upgraded by equities research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage presently has a $43.00 price objective on the stock, up from their prior price objective of $34.00. Barclays‘s target price indicates a potential upside of 11.67% from the company’s previous close.

A number of other equities analysts also recently issued reports on BBWI. TD Cowen lifted their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Argus restated a “hold” rating on shares of Bath & Body Works in a research note on Friday, January 10th. Piper Sandler lifted their target price 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. Telsey Advisory Group restated an “outperform” rating and set a $43.00 price target on shares of Bath & Body Works in a research report on Thursday. Finally, Morgan Stanley decreased their price objective on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.19.

Bath & Body Works Stock Down 4.5 %

Shares of NYSE BBWI opened at $38.51 on Monday. The firm has a market cap of $8.34 billion, a PE ratio of 9.39, a P/E/G ratio of 0.96 and a beta of 1.83. The company’s fifty day simple moving average is $37.70 and its 200 day simple moving average is $33.90. 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 Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts predict that Bath & Body Works will post 3.3 earnings per share for the current year.

Hedge Funds Weigh In On Bath & Body Works

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Bath & Body Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock worth $1,093,306,000 after acquiring an additional 208,036 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Bath & Body Works by 4.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company’s stock valued at $396,815,000 after acquiring an additional 422,973 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Bath & Body Works by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock valued at $329,317,000 after purchasing an additional 445,887 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Bath & Body Works by 35.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company’s stock worth $200,768,000 after acquiring an additional 1,360,264 shares in the last quarter. Finally, Anomaly Capital Management LP increased its holdings in shares of Bath & Body Works by 38.3% during the fourth quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company’s stock valued at $188,456,000 after acquiring an additional 1,346,752 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

About Bath & Body Works

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.