Bath & Body Works (NYSE:BBWI) Price Target Raised to $36.00 at UBS Group

Bath & Body Works (NYSE:BBWI) had its target price boosted by equities researchers at UBS Group from $32.00 to $36.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 7.27% from the stock’s current price.

Other research analysts have also issued reports about the stock. Raymond James decreased their price target on shares of Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Telsey Advisory Group reiterated an “outperform” rating and issued a $43.00 price objective on shares of Bath & Body Works in a research report on Tuesday. The Goldman Sachs Group cut their price objective on shares of 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. Cowen reiterated a “buy” rating on shares of Bath & Body Works in a research report on Thursday, February 27th. Finally, Barclays lifted their price objective on shares of Bath & Body Works from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.19.

Bath & Body Works Trading Down 0.6%

BBWI opened at $33.56 on Tuesday. The company has a fifty day simple moving average of $30.05 and a 200 day simple moving average of $34.03. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 0.92 and a beta of 1.87. Bath & Body Works has a twelve month low of $24.96 and a twelve month high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Thursday, February 27th. The company reported $2.09 EPS 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 for the quarter, compared to the consensus estimate of $2.78 billion. On average, analysts forecast that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works declared that its board has authorized a stock repurchase program on Thursday, February 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Bath & Body Works by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock valued at $1,093,306,000 after purchasing an additional 208,036 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Bath & Body Works by 7.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 11,016,767 shares of the company’s stock valued at $334,029,000 after purchasing an additional 781,681 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in 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. Victory Capital Management Inc. grew its position in Bath & Body Works by 14,732.0% in the first quarter. Victory Capital Management Inc. now owns 6,798,108 shares of the company’s stock worth $206,119,000 after acquiring an additional 6,752,274 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Bath & Body Works by 4.7% in the first quarter. Alliancebernstein L.P. now owns 5,422,058 shares of the company’s stock worth $164,397,000 after acquiring an additional 243,611 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.