Morgan Stanley Cuts Bath & Body Works (NYSE:BBWI) Price Target to $43.00

Bath & Body Works (NYSE:BBWI) had its price target cut by Morgan Stanley from $49.00 to $43.00 in a research note released on Tuesday, MarketBeat reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently weighed in on BBWI. The Goldman Sachs Group dropped their price target on Bath & Body Works from $49.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Barclays dropped their price target on shares of Bath & Body Works from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Piper Sandler upgraded Bath & Body Works from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $38.00 to $35.00 in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Bath & Body Works from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $43.00 price objective on shares of Bath & Body Works in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Bath & Body Works presently has a consensus rating of “Moderate Buy” and an average price target of $41.88.

Bath & Body Works Stock Performance

BBWI stock opened at $31.77 on Tuesday. Bath & Body Works has a one year low of $24.96 and a one year high of $52.99. The firm’s 50 day moving average price is $29.89 and its 200-day moving average price is $33.78. The firm has a market cap of $6.77 billion, a PE ratio of 7.75, a PEG ratio of 0.92 and a beta of 1.87.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.78 billion. Equities research analysts predict that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Bath & Body Works declared that its board has authorized a stock buyback program on Thursday, February 27th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. SRS Capital Advisors Inc. boosted its holdings in shares of Bath & Body Works by 99.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock worth $26,000 after purchasing an additional 329 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Bath & Body Works during the fourth quarter valued at about $26,000. UMB Bank n.a. lifted its position in Bath & Body Works by 58.8% during the 4th 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 increased its stake in shares of 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, Smartleaf Asset Management LLC grew its holdings in Bath & Body Works by 135.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock worth $39,000 after acquiring an additional 582 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.