Bath & Body Works (NYSE:BBWI) Given New $42.00 Price Target at Citigroup

Bath & Body Works (NYSE:BBWI) had its price objective hoisted by equities research analysts at Citigroup from $36.00 to $42.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 23.06% from the company’s current price.

A number of other research firms have also commented on BBWI. The Goldman Sachs Group reduced their price objective on Bath & Body Works from $49.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. UBS Group raised their price objective on shares of Bath & Body Works from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley reduced their target price on shares of Bath & Body Works from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Telsey Advisory Group reissued an “outperform” rating and issued a $43.00 target price on shares of Bath & Body Works in a research note on Tuesday. Finally, Wells Fargo & Company raised their target price on shares of Bath & Body Works from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.56.

Bath & Body Works Stock Performance

Shares of Bath & Body Works stock traded up $0.55 during trading on Tuesday, reaching $34.13. The company’s stock had a trading volume of 476,651 shares, compared to its average volume of 4,828,358. The business’s fifty day moving average price is $30.05 and its 200-day moving average price is $34.03. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87. Bath & Body Works has a one year low of $24.96 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Sell-side analysts anticipate that Bath & Body Works will post 3.3 EPS for the current year.

Bath & Body Works declared that its board has approved a share repurchase plan on Thursday, February 27th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Bath & Body Works

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Bath & Body Works by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 28,199,787 shares of the company’s stock valued at $1,093,306,000 after buying an additional 208,036 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Bath & Body Works by 7.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 11,016,767 shares of the company’s stock worth $334,029,000 after buying an additional 781,681 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Bath & Body Works by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock valued at $329,317,000 after acquiring an additional 445,887 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Bath & Body Works by 14,732.0% during the first quarter. Victory Capital Management Inc. now owns 6,798,108 shares of the company’s stock valued at $206,119,000 after purchasing an additional 6,752,274 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Bath & Body Works by 4.7% in the 1st quarter. Alliancebernstein L.P. now owns 5,422,058 shares of the company’s stock worth $164,397,000 after purchasing an additional 243,611 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.