Bath & Body Works (NYSE:BBWI) Price Target Cut to $32.00 by Analysts at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its price target cut by equities researchers at Wells Fargo & Company from $35.00 to $32.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 1.14% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Raymond James reduced their price objective on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. The Goldman Sachs Group dropped their price target on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Robert W. Baird dropped their price target on shares of Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bath & Body Works from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Bath & Body Works has a consensus rating of “Moderate Buy” and a consensus target price of $42.63.

Bath & Body Works Stock Up 0.1 %

NYSE BBWI traded up $0.02 during trading hours on Wednesday, reaching $31.64. 159,428 shares of the company were exchanged, compared to its average volume of 3,714,874. The stock has a market capitalization of $6.93 billion, a P/E ratio of 7.66, a P/E/G ratio of 0.92 and a beta of 1.79. Bath & Body Works has a 1 year low of $26.20 and a 1 year high of $52.99. The business’s 50 day simple moving average is $30.08 and its 200-day simple moving average is $37.25.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, sell-side analysts anticipate that Bath & Body Works will post 3.18 earnings per share for the current year.

Insider Activity at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were purchased at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BBWI. Envestnet Portfolio Solutions Inc. raised its stake in shares of Bath & Body Works by 5.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,571 shares of the company’s stock worth $279,000 after buying an additional 277 shares during the period. Empirical Finance LLC grew its holdings in Bath & Body Works by 3.6% in the 1st quarter. Empirical Finance LLC now owns 8,097 shares of the company’s stock valued at $405,000 after buying an additional 278 shares in the last quarter. CWM LLC grew its holdings in Bath & Body Works by 6.6% in the 2nd quarter. CWM LLC now owns 5,072 shares of the company’s stock valued at $198,000 after buying an additional 314 shares in the last quarter. Northwest Bank & Trust Co grew its holdings in Bath & Body Works by 2.5% in the 1st quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock valued at $655,000 after buying an additional 315 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Bath & Body Works by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock worth $1,560,000 after purchasing an additional 322 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

About Bath & Body Works

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.