Bath & Body Works (NYSE:BBWI) Receives “Outperform” Rating from Telsey Advisory Group

Bath & Body Works (NYSE:BBWI)‘s stock had its “outperform” rating reiterated by equities researchers at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $43.00 target price on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 41.35% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Citigroup boosted their target price on shares of Bath & Body Works from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. boosted their target price on shares of Bath & Body Works from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, May 19th. UBS Group boosted their target price on shares of Bath & Body Works from $32.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. Morgan Stanley lowered their price target on shares of Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Finally, Barclays upped 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 note on Tuesday, May 20th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Bath & Body Works currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.56.

Bath & Body Works Stock Performance

BBWI opened at $30.42 on Thursday. Bath & Body Works has a fifty-two week low of $24.96 and a fifty-two week high of $52.99. The company has a fifty day moving average of $30.23 and a two-hundred day moving average of $33.98. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 0.92 and a beta of 1.87.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Thursday, May 29th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.07. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. On average, equities research analysts forecast that Bath & Body Works will post 3.3 earnings per share for the current year.

Bath & Body Works announced that its board has initiated a share buyback program on Thursday, February 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Bath & Body Works

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bath & Body Works by 32.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,784 shares of the company’s stock worth $2,046,000 after buying an additional 12,964 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Bath & Body Works by 5.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 88,423 shares of the company’s stock worth $3,428,000 after buying an additional 4,625 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in Bath & Body Works during the 4th quarter worth approximately $258,000. Charles Schwab Investment Management Inc. lifted its holdings in Bath & Body Works by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,704,625 shares of the company’s stock worth $66,088,000 after buying an additional 195,813 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Bath & Body Works by 3.7% during the 4th quarter. Nuveen Asset Management LLC now owns 764,195 shares of the company’s stock worth $29,628,000 after buying an additional 27,136 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.