Barclays Cuts Bath & Body Works (NYSE:BBWI) Price Target to $31.00

Bath & Body Works (NYSE:BBWI - Get Free Report) had its price objective lowered by equities research analysts at Barclays from $38.00 to $31.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price target points to a potential downside of 8.08% from the company's current price.

A number of other research analysts have also commented on BBWI. Piper Sandler upgraded Bath & Body Works from a "neutral" rating to an "overweight" rating and cut their target price for the company from $38.00 to $35.00 in a research note on Wednesday, April 9th. Cowen reaffirmed a "buy" rating on shares of Bath & Body Works in a research note on Thursday, February 27th. Raymond James cut their target price on 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. Robert W. Baird increased their target price on Bath & Body Works from $45.00 to $47.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group dropped their price target on Bath & Body Works from $49.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $41.69.

Bath & Body Works Stock Down 0.7%

Shares of BBWI traded down $0.24 during mid-day trading on Monday, hitting $33.73. The stock had a trading volume of 5,679,860 shares, compared to its average volume of 4,832,322. The company has a market cap of $7.18 billion, a PE ratio of 8.23, a PEG ratio of 0.92 and a beta of 1.87. The company's fifty day simple moving average is $29.97 and its two-hundred day simple moving average is $33.93. Bath & Body Works has a fifty-two week low of $24.96 and a fifty-two week high of $52.99.

Bath & Body Works (NYSE:BBWI - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.78 billion. Equities 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 authorized a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Bath & Body Works

A number of institutional investors have recently modified their holdings of BBWI. Great Lakes Advisors LLC raised its holdings in Bath & Body Works by 1,387.2% in the 1st quarter. Great Lakes Advisors LLC now owns 79,447 shares of the company's stock valued at $2,409,000 after acquiring an additional 74,105 shares in the last quarter. Sciencast Management LP grew its position in Bath & Body Works by 48.9% during the 1st quarter. Sciencast Management LP now owns 116,219 shares of the company's stock worth $3,524,000 after acquiring an additional 38,183 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Bath & Body Works by 15.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 645,970 shares of the company's stock valued at $19,586,000 after buying an additional 87,529 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Bath & Body Works by 50.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 102,040 shares of the company's stock valued at $3,094,000 after buying an additional 34,231 shares during the last quarter. Finally, Teza Capital Management LLC boosted its position in shares of Bath & Body Works by 88.3% during the 1st quarter. Teza Capital Management LLC now owns 16,333 shares of the company's stock valued at $495,000 after purchasing an additional 7,658 shares in the last quarter. Institutional investors own 95.14% of the company's stock.

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.