Bath & Body Works (NYSE:BBWI) Price Target Raised to $36.00 at Piper Sandler

Bath & Body Works (NYSE:BBWI) had its price objective raised by analysts at Piper Sandler from $35.00 to $36.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential upside of 0.22% from the company’s current price.

BBWI has been the subject of several other research reports. Robert W. Baird decreased their target price on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. JPMorgan Chase & Co. lowered their price objective on shares of Bath & Body Works from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Bank of America decreased their target price on shares of Bath & Body Works from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Raymond James dropped their price target on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Finally, Morgan Stanley decreased 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 report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Bath & Body Works has an average rating of “Moderate Buy” and a consensus price target of $41.88.

Bath & Body Works Stock Up 2.0 %

BBWI opened at $35.92 on Tuesday. The company has a 50 day moving average of $30.81 and a two-hundred day moving average of $35.65. Bath & Body Works has a 52-week low of $26.20 and a 52-week high of $52.99. The company has a market cap of $7.87 billion, a P/E ratio of 8.83, a P/E/G ratio of 1.14 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Research analysts anticipate that Bath & Body Works will post 3.18 earnings per share for the current year.

Insider Buying and Selling

In other Bath & Body Works news, CEO Gina Boswell acquired 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 purchase, the chief executive officer now directly owns 242,987 shares in the company, valued at $7,202,134.68. The trade was a 2.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bath & Body Works

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Anthracite Investment Company Inc. bought a new position in shares of Bath & Body Works during the third quarter worth about $2,921,000. Principal Financial Group Inc. boosted its stake in Bath & Body Works by 328.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,069,941 shares of the company’s stock valued at $34,153,000 after purchasing an additional 820,379 shares during the period. New York State Teachers Retirement System grew its position in Bath & Body Works by 18.1% in the 3rd quarter. New York State Teachers Retirement System now owns 266,235 shares of the company’s stock worth $8,498,000 after purchasing an additional 40,793 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Bath & Body Works by 404.4% in the third quarter. Los Angeles Capital Management LLC now owns 134,544 shares of the company’s stock valued at $4,295,000 after purchasing an additional 107,868 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Bath & Body Works by 152.7% during the second quarter. Renaissance Technologies LLC now owns 901,133 shares of the company’s stock valued at $35,189,000 after buying an additional 544,599 shares during the last quarter. 95.14% of the stock is currently 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.