Bath & Body Works (NYSE:BBWI) Upgraded by JPMorgan Chase & Co. to “Overweight” Rating

Bath & Body Works (NYSE:BBWI) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has a $47.00 price target on the stock, up from their prior price target of $41.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 28.75% from the company’s previous close.

BBWI has been the subject of several other reports. Barclays upped their price objective on Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 26th. Piper Sandler lifted their price objective on Bath & Body Works from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Morgan Stanley reduced their price objective on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research note on Monday, November 25th. Finally, TD Cowen lifted their price objective on Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.56.

Bath & Body Works Price Performance

BBWI stock opened at $36.50 on Tuesday. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99. The business has a 50 day simple moving average of $37.57 and a 200-day simple moving average of $33.67. The firm has a market capitalization of $7.91 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.90 and a beta of 1.83.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. On average, equities research analysts expect that Bath & Body Works will post 3.26 EPS for the current year.

Institutional Investors Weigh In On Bath & Body Works

A number of institutional investors have recently modified their holdings of BBWI. SRS Capital Advisors Inc. boosted its holdings in shares of Bath & Body Works by 99.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after acquiring an additional 329 shares during the period. Golden State Wealth Management LLC bought a new stake in Bath & Body Works in the fourth quarter worth about $26,000. UMB Bank n.a. grew its stake in shares of Bath & Body Works by 58.8% in the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after purchasing an additional 335 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Bath & Body Works by 81.9% in the 4th quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock worth $37,000 after purchasing an additional 431 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake 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 valued at $39,000 after purchasing an additional 582 shares during the last quarter. Institutional investors 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.