Bath & Body Works (NYSE:BBWI) Given New $46.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Bath & Body Works from $40.00 to $46.00, indicating a potential upside of 45.79% from the current market price.
• Despite this optimistic outlook, other analysts have varying price targets, with some setting lower expectations, such as $30.00 by Barclays and a lower price objective of $37.00 from Raymond James Financial.
• Bath & Body Works reported earnings of $0.49 per share for the last quarter, surpassing estimates and showing a 2.9% year-over-year revenue growth, although revenues slightly underperformed against forecasts.

Bath & Body Works (NYSE:BBWI - Get Free Report) had its price objective boosted by JPMorgan Chase & Co. from $40.00 to $46.00 in a report released on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 45.79% from the company's current price.

Several other equities research analysts also recently commented on BBWI. Piper Sandler set a $39.00 price objective on shares of Bath & Body Works and gave the company an "overweight" rating in a report on Thursday, May 15th. Raymond James Financial dropped 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 report on Thursday, April 17th. Wells Fargo & Company upped their price objective on shares of Bath & Body Works from $40.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Morgan Stanley dropped their price objective on shares of Bath & Body Works from $49.00 to $43.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Barclays dropped their price objective on shares of Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Bath & Body Works currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.19.

Bath & Body Works Stock Performance

Shares of NYSE:BBWI opened at $31.55 on Monday. The company's 50-day moving average is $30.02 and its 200 day moving average is $32.05. The company has a market capitalization of $6.68 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 1.06 and a beta of 1.72. Bath & Body Works has a fifty-two week low of $24.94 and a fifty-two week high of $41.87.

Bath & Body Works (NYSE:BBWI - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. Bath & Body Works had a negative return on equity of 47.44% and a net margin of 11.10%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business posted $0.38 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts predict that Bath & Body Works will post 3.3 earnings per share for the current year.

Institutional Investors Weigh In On Bath & Body Works

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in 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 valued at $206,119,000 after acquiring an additional 6,752,274 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Bath & Body Works by 267.8% in the first quarter. AQR Capital Management LLC now owns 3,993,173 shares of the company's stock worth $121,073,000 after purchasing an additional 2,907,506 shares during the last quarter. D1 Capital Partners L.P. bought a new position in shares of Bath & Body Works in the fourth quarter worth approximately $109,797,000. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Bath & Body Works by 115.7% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,680,104 shares of the company's stock worth $111,581,000 after purchasing an additional 1,973,679 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Bath & Body Works in the fourth quarter worth approximately $73,572,000. 95.14% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.