Bath & Body Works (NYSE:BBWI) Rating Increased to Overweight at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Friday, Marketbeat reports. The brokerage currently has a $48.00 price objective on the stock, up from their previous price objective of $42.00. Wells Fargo & Company‘s target price indicates a potential upside of 29.94% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Barclays lifted their target price on Bath & Body Works from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, November 26th. TD Cowen upped their price objective on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Morgan Stanley dropped their target price on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on shares of Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Bath & Body Works has a consensus rating of “Moderate Buy” and an average price target of $43.06.

Bath & Body Works Trading Up 0.2 %

Shares of BBWI opened at $36.94 on Friday. The firm has a fifty day moving average price of $35.60 and a 200-day moving average price of $33.81. The firm has a market capitalization of $8.00 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.43 and a beta of 1.82. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last released its quarterly earnings data on Monday, November 25th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.03. The company 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 period in the previous year, the company earned $0.48 EPS. Analysts predict that Bath & Body Works will post 3.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Private Client Wealth LLC increased its position in shares of Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock valued at $54,000 after acquiring an additional 331 shares during the period. GAMMA Investing LLC raised its stake in shares of Bath & Body Works by 34.4% in the third quarter. GAMMA Investing LLC now owns 2,481 shares of the company’s stock worth $79,000 after purchasing an additional 635 shares during the last quarter. Everett Harris & Co. CA lifted its holdings in shares of Bath & Body Works by 1.5% during the third quarter. Everett Harris & Co. CA now owns 49,140 shares of the company’s stock worth $1,569,000 after purchasing an additional 725 shares during the period. Sequoia Financial Advisors LLC boosted its position in Bath & Body Works by 14.9% in the third quarter. Sequoia Financial Advisors LLC now owns 6,514 shares of the company’s stock valued at $208,000 after buying an additional 847 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Bath & Body Works by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock worth $38,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.