Wells Fargo & Company Forecasts Strong Price Appreciation for Bath & Body Works (NYSE:BBWI) Stock

Bath & Body Works (NYSE:BBWI) had its target price lifted by Wells Fargo & Company from $40.00 to $44.00 in a research note released on Wednesday, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird raised their target price on shares of Bath & Body Works from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Barclays lowered their price objective on shares of Bath & Body Works from $38.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Monday. Raymond James lowered their price objective on shares of Bath & Body Works from $46.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Telsey Advisory Group restated an “outperform” rating and issued a $43.00 price target on shares of Bath & Body Works in a research report on Thursday, February 27th. Finally, Citigroup decreased their price target on shares of Bath & Body Works from $48.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.69.

Bath & Body Works Price Performance

Shares of Bath & Body Works stock opened at $33.77 on Wednesday. The business has a 50-day moving average of $29.82 and a 200-day moving average of $33.86. The company has a market capitalization of $7.19 billion, a PE ratio of 8.24, a P/E/G ratio of 0.92 and a beta of 1.87. Bath & Body Works has a 1-year low of $24.96 and a 1-year high of $52.99.

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

Bath & Body Works announced that its board has initiated a stock repurchase plan on Thursday, February 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Bath & Body Works

Institutional investors and hedge funds have recently modified their holdings of the business. SRS Capital Advisors Inc. lifted its stake in shares of Bath & Body Works by 99.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 659 shares of the company’s stock valued at $26,000 after purchasing an additional 329 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Bath & Body Works during the 4th quarter worth about $26,000. UMB Bank n.a. increased its holdings in shares of Bath & Body Works by 58.8% during the 4th quarter. UMB Bank n.a. now owns 905 shares of the company’s stock worth $35,000 after purchasing an additional 335 shares during the period. Lindbrook Capital LLC increased its stake in Bath & Body Works by 81.9% in the fourth quarter. Lindbrook Capital LLC now owns 957 shares of the company’s stock valued at $37,000 after acquiring an additional 431 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Bath & Body Works by 135.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,013 shares of the company’s stock valued at $39,000 after acquiring an additional 582 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

About Bath & Body Works

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.