Barclays Issues Pessimistic Forecast for Bath & Body Works (NYSE:BBWI) Stock Price

Bath & Body Works (NYSE:BBWI - Get Free Report) had its price target decreased by equities researchers at Barclays from $38.00 to $31.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price objective points to a potential downside of 7.77% from the company's current price.

Other equities analysts also recently issued research reports about the company. Piper Sandler upgraded Bath & Body Works from a "neutral" rating to an "overweight" rating and lowered their price target for the stock from $38.00 to $35.00 in a research report on Wednesday, April 9th. Morgan Stanley lowered their price target on Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Robert W. Baird increased their price target on Bath & Body Works from $45.00 to $47.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Wells Fargo & Company reduced their target price on Bath & Body Works from $48.00 to $40.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group reduced their target price on Bath & Body Works from $49.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.44.

Bath & Body Works Stock Up 8.2%

Shares of BBWI traded up $2.56 during mid-day trading on Monday, reaching $33.61. The company had a trading volume of 965,758 shares, compared to its average volume of 4,800,002. Bath & Body Works has a 52-week low of $24.96 and a 52-week high of $52.99. The stock has a market capitalization of $7.16 billion, a P/E ratio of 8.22, a PEG ratio of 0.92 and a beta of 1.87. The stock has a 50 day moving average of $29.83 and a two-hundred day moving average of $33.84.

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

Bath & Body Works declared that its board has approved a stock repurchase program on Thursday, February 27th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BBWI. Victory Capital Management Inc. boosted its position in shares of Bath & Body Works by 14,732.0% during the first quarter. Victory Capital Management Inc. now owns 6,798,108 shares of the company's stock worth $206,119,000 after buying an additional 6,752,274 shares during the period. D1 Capital Partners L.P. purchased a new position in Bath & Body Works in the fourth quarter valued at $109,797,000. Norges Bank purchased a new position in Bath & Body Works in the fourth quarter valued at $73,572,000. Arrowstreet Capital Limited Partnership boosted its holdings in Bath & Body Works by 79.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company's stock valued at $150,507,000 after purchasing an additional 1,715,096 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Bath & Body Works by 3,642.2% in the first quarter. Assenagon Asset Management S.A. now owns 1,651,109 shares of the company's stock valued at $50,062,000 after purchasing an additional 1,606,988 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Bath & Body Works Company Profile

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.

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