Bath & Body Works (NYSE:BBWI) Given New $36.00 Price Target at Citigroup

Bath & Body Works (NYSE:BBWI) had its price objective reduced by stock analysts at Citigroup from $48.00 to $36.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 35.81% from the stock’s current price.

Several other analysts also recently weighed in on the company. Robert W. Baird lifted their price objective on Bath & Body Works from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, February 28th. JPMorgan Chase & Co. set a $47.00 target price on shares of Bath & Body Works in a research report on Thursday, February 27th. Wells Fargo & Company raised Bath & Body Works from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $42.00 to $48.00 in a research report on Friday, January 10th. Telsey Advisory Group restated an “outperform” rating and set a $43.00 target price on shares of Bath & Body Works in a research note on Thursday, February 27th. Finally, TD Cowen increased their price target on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.31.

Bath & Body Works Price Performance

Shares of BBWI traded down $0.78 during mid-day trading on Monday, reaching $26.51. 3,317,550 shares of the company’s stock traded hands, compared to its average volume of 4,565,992. The stock’s 50-day moving average is $34.45 and its two-hundred day moving average is $34.16. The stock has a market cap of $5.68 billion, a P/E ratio of 6.48, a P/E/G ratio of 0.92 and a beta of 1.69. Bath & Body Works has a 12 month low of $25.41 and a 12 month high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its earnings results on Thursday, February 27th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.05. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. Research analysts predict that Bath & Body Works will post 3.3 earnings per share for the current year.

Bath & Body Works announced that its board has approved a stock buyback plan on Thursday, February 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Bath & Body Works by 0.7% in the 4th 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. lifted its holdings in Bath & Body Works by 4.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,235,086 shares of the company’s stock valued at $396,815,000 after acquiring an additional 422,973 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Bath & Body Works by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,494,089 shares of the company’s stock worth $329,317,000 after purchasing an additional 445,887 shares during the period. Alliancebernstein L.P. raised its holdings in Bath & Body Works by 35.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,178,447 shares of the company’s stock worth $200,768,000 after purchasing an additional 1,360,264 shares during the last quarter. Finally, Anomaly Capital Management LP grew its holdings in Bath & Body Works by 38.3% in the fourth quarter. Anomaly Capital Management LP now owns 4,860,876 shares of the company’s stock valued at $188,456,000 after purchasing an additional 1,346,752 shares during the last quarter. 95.14% of the stock is currently 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.