Wells Fargo & Company Forecasts Strong Price Appreciation for Bath & Body Works (NYSE:BBWI) Stock

Bath & Body Works (NYSE:BBWI) had its target price lifted by research analysts at Wells Fargo & Company from $32.00 to $38.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 7.86% from the company’s current price.

Several other brokerages have also commented on BBWI. UBS Group decreased their target price on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Telsey Advisory Group restated an “outperform” rating and set a $42.00 target price on shares of Bath & Body Works in a research report on Monday. Morgan Stanley lowered their price target on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. Piper Sandler lifted their price objective on Bath & Body Works from $35.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Robert W. Baird lowered their target price on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.81.

Bath & Body Works Stock Down 1.5 %

NYSE:BBWI traded down $0.55 during midday trading on Tuesday, reaching $35.23. The stock had a trading volume of 1,875,708 shares, compared to its average volume of 3,952,529. The stock has a market cap of $7.72 billion, a P/E ratio of 8.53, a P/E/G ratio of 0.98 and a beta of 1.79. The firm has a fifty day simple moving average of $30.69 and a two-hundred day simple moving average of $35.74. 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 announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.54 billion. On average, sell-side analysts anticipate that Bath & Body Works will post 3.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction dated 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 transaction, the chief executive officer now owns 242,987 shares in the company, valued at approximately $7,202,134.68. This represents a 2.53 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bath & Body Works

A number of hedge funds and other institutional investors have recently modified their holdings of BBWI. First Community Trust NA acquired a new stake in Bath & Body Works during the second quarter valued at approximately $30,000. True Wealth Design LLC lifted 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 valued at $34,000 after acquiring an additional 1,054 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Bath & Body Works by 300.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after acquiring an additional 900 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Bath & Body Works in the 3rd quarter worth $39,000. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Bath & Body Works by 24.2% during the third quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after purchasing an additional 331 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

About Bath & Body Works

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.