Bath & Body Works (NYSE:BBWI) Rating Reiterated by Telsey Advisory Group

Bath & Body Works (NYSE:BBWI)‘s stock had its “outperform” rating reissued by Telsey Advisory Group in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $53.00 price objective on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 55.70% from the company’s previous close.

A number of other equities research analysts have also issued reports on BBWI. Piper Sandler cut their price target on shares of Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Barclays reduced their target price on Bath & Body Works from $45.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. upgraded Bath & Body Works from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $40.00 to $53.00 in a report on Friday, May 17th. BMO Capital Markets increased their price objective on Bath & Body Works from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 5th. Finally, Wells Fargo & Company lowered their target price on Bath & Body Works from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.40.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $34.04 on Wednesday. The company has a market capitalization of $7.60 billion, a PE ratio of 8.77, a price-to-earnings-growth ratio of 1.16 and a beta of 1.85. The stock has a fifty day moving average of $36.52 and a 200-day moving average of $43.03. 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 announced its earnings results on Tuesday, June 4th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.33 by $0.05. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. Bath & Body Works had a negative return on equity of 40.00% and a net margin of 11.92%. Bath & Body Works’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, research analysts forecast that Bath & Body Works will post 3.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BBWI. Anomaly Capital Management LP bought a new stake in Bath & Body Works in the second quarter worth $113,995,000. Norges Bank acquired a new position in shares of Bath & Body Works during the 4th quarter valued at about $101,669,000. Lone Pine Capital LLC raised its stake in shares of Bath & Body Works by 20.0% in the 4th quarter. Lone Pine Capital LLC now owns 10,448,872 shares of the company’s stock valued at $450,973,000 after acquiring an additional 1,742,471 shares in the last quarter. Sound Shore Management Inc. CT lifted its holdings in Bath & Body Works by 379.2% in the 4th quarter. Sound Shore Management Inc. CT now owns 1,903,258 shares of the company’s stock worth $82,145,000 after purchasing an additional 1,506,110 shares during the last quarter. Finally, Cadian Capital Management LP acquired a new stake in Bath & Body Works in the 4th quarter worth approximately $58,266,000. Institutional investors and hedge funds 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.