TD Cowen Raises Bath & Body Works (NYSE:BBWI) Price Target to $42.00

Bath & Body Works (NYSE:BBWI) had its target price raised by stock analysts at TD Cowen from $40.00 to $42.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 19.05% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Bath & Body Works from $35.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday. Robert W. Baird cut their price target on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Barclays upped their target price on shares of Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday. Citigroup decreased their target price on shares of Bath & Body Works from $48.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.88.

Bath & Body Works Stock Down 1.4 %

BBWI stock traded down $0.50 during mid-day trading on Tuesday, reaching $35.28. 3,136,495 shares of the company traded hands, compared to its average volume of 3,958,885. Bath & Body Works has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The firm’s 50 day moving average price is $30.69 and its 200 day moving average price is $35.74. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 0.98 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a negative return on equity of 41.94% and a net margin of 12.69%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.54 billion. On average, analysts anticipate that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gina Boswell bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average cost of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the purchase, the chief executive officer now owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 2.53 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bath & Body Works

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBWI. Lone Pine Capital LLC raised its position in Bath & Body Works by 15.8% in the 2nd quarter. Lone Pine Capital LLC now owns 11,315,515 shares of the company’s stock valued at $441,871,000 after buying an additional 1,547,399 shares during the last quarter. Anomaly Capital Management LP acquired a new position in shares of Bath & Body Works during the 2nd quarter worth approximately $113,995,000. FMR LLC increased its holdings in shares of Bath & Body Works by 17,496.5% during the 3rd quarter. FMR LLC now owns 2,516,127 shares of the company’s stock worth $80,315,000 after acquiring an additional 2,501,828 shares during the last quarter. Sound Shore Management Inc. CT increased its holdings in shares of Bath & Body Works by 10.0% during the 2nd quarter. Sound Shore Management Inc. CT now owns 2,088,703 shares of the company’s stock worth $81,564,000 after acquiring an additional 189,889 shares during the last quarter. Finally, KBC Group NV boosted its stake in Bath & Body Works by 9,023.5% in the 3rd quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after purchasing an additional 1,683,160 shares during the period. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Company Profile

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.