Robert W. Baird Lowers Bath & Body Works (NYSE:BBWI) Price Target to $45.00

Bath & Body Works (NYSE:BBWI) had its price objective dropped by research analysts at Robert W. Baird from $54.00 to $45.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 46.29% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Barclays cut their price target on shares of Bath & Body Works from $45.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Bank of America cut their target price on Bath & Body Works from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday. Evercore ISI lowered their target price on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating for the company in a report on Wednesday. Telsey Advisory Group restated an “outperform” rating and set a $53.00 price target on shares of Bath & Body Works in a report on Wednesday. Finally, Piper Sandler lowered their price objective on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Bath & Body Works Price Performance

Bath & Body Works stock opened at $30.76 on Thursday. The firm has a market cap of $6.87 billion, a P/E ratio of 7.93, a P/E/G ratio of 1.16 and a beta of 1.85. The stock’s 50 day moving average is $35.46 and its 200 day moving average is $42.59. Bath & Body Works has a one year low of $27.30 and a one year high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its quarterly earnings results on Tuesday, June 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.05. Bath & Body Works had a net margin of 11.92% and a negative return on equity of 40.00%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company earned $0.33 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. Equities analysts anticipate that Bath & Body Works will post 3.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bath & Body Works

Several large investors have recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its holdings in shares of Bath & Body Works by 3.7% in the fourth quarter. TD Asset Management Inc now owns 976,278 shares of the company’s stock valued at $42,136,000 after purchasing an additional 35,261 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Bath & Body Works by 28.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,617 shares of the company’s stock valued at $12,936,000 after acquiring an additional 56,764 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Bath & Body Works by 46.9% during the 1st quarter. Russell Investments Group Ltd. now owns 131,605 shares of the company’s stock worth $6,572,000 after acquiring an additional 41,995 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in Bath & Body Works during the 4th quarter worth $1,618,000. Finally, Vanguard Group Inc. grew its stake in shares of Bath & Body Works by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 27,398,192 shares of the company’s stock worth $1,370,458,000 after acquiring an additional 1,102,124 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

Bath & Body Works Company Profile

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.