Bath & Body Works (NYSE:BBWI) Given New $37.00 Price Target at Raymond James

Bath & Body Works (NYSE:BBWI) had its target price decreased by research analysts at Raymond James from $46.00 to $37.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price points to a potential upside of 29.42% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Cowen reissued a “buy” rating on shares of Bath & Body Works in a report on Thursday, February 27th. Telsey Advisory Group restated an “outperform” rating and set a $43.00 price objective on shares of Bath & Body Works in a research report on Thursday, February 27th. JPMorgan Chase & Co. lowered their target price on shares of Bath & Body Works from $47.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday. Citigroup cut their price target on Bath & Body Works from $48.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, Robert W. Baird increased their target price on Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.13.

Bath & Body Works Stock Up 4.0 %

Shares of Bath & Body Works stock traded up $1.09 during trading hours on Thursday, reaching $28.59. 1,659,010 shares of the stock traded hands, compared to its average volume of 4,703,973. The company has a 50 day moving average price of $32.43 and a 200 day moving average price of $33.89. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 6.94, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works has a one year low of $24.96 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its earnings results on Thursday, February 27th. The company reported $2.09 EPS 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 negative return on equity of 44.03% and a net margin of 12.43%. Sell-side analysts anticipate that Bath & Body Works will post 3.3 earnings per share for the current year.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in shares of Bath & Body Works in the 4th quarter worth $26,000. SRS Capital Advisors Inc. raised its holdings in shares of Bath & Body Works by 99.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after acquiring an additional 329 shares in the last quarter. UMB Bank n.a. lifted its stake in Bath & Body Works by 58.8% in the fourth quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after acquiring an additional 335 shares during the period. Lindbrook Capital LLC lifted its stake in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after acquiring an additional 431 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Bath & Body Works during the 3rd quarter worth about $39,000. 95.14% of the stock is currently owned by hedge funds and other 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.