Bath & Body Works (NYSE:BBWI) Raised to Buy at Wall Street Zen

Key Points

• Bath & Body Works has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a positive shift in analysts' sentiment regarding the stock.
• Despite the upgrade, several other analysts have lowered their price targets for Bath & Body Works, with the consensus target price now set at $42.00.
• The company reported an earnings per share of $0.49, surpassing analyst expectations, along with a revenue of $1.40 billion for the quarter.

Bath & Body Works (NYSE:BBWI - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other equities research analysts have also recently commented on BBWI. Citigroup increased their price target on Bath & Body Works from $36.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Piper Sandler set a $39.00 price target on Bath & Body Works and gave the company an "overweight" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. increased their price target on Bath & Body Works from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Barclays lowered their price objective on Bath & Body Works from $35.00 to $30.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Finally, Raymond James Financial lowered their price objective on Bath & Body Works from $46.00 to $37.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Bath & Body Works Stock Up 0.4%

Shares of Bath & Body Works stock traded up $0.12 during mid-day trading on Friday, reaching $31.55. 3,723,360 shares of the stock traded hands, compared to its average volume of 4,669,875. The business has a 50-day moving average of $30.02 and a 200 day moving average of $32.08. Bath & Body Works has a fifty-two week low of $24.94 and a fifty-two week high of $41.87. The stock has a market capitalization of $6.68 billion, a PE ratio of 8.41, a PEG ratio of 1.05 and a beta of 1.72.

Bath & Body Works (NYSE:BBWI - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.49 EPS for the quarter, beating 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 analysts' expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The business's revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that Bath & Body Works will post 3.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Bath & Body Works in the second quarter valued at $33,000. SVB Wealth LLC acquired a new stake in Bath & Body Works in the first quarter valued at $35,000. Geneos Wealth Management Inc. raised its stake in Bath & Body Works by 217.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,169 shares of the company's stock valued at $35,000 after buying an additional 801 shares in the last quarter. Parallel Advisors LLC raised its stake in Bath & Body Works by 63.3% in the second quarter. Parallel Advisors LLC now owns 1,241 shares of the company's stock valued at $37,000 after buying an additional 481 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Bath & Body Works by 94.7% in the first quarter. Golden State Wealth Management LLC now owns 1,320 shares of the company's stock valued at $40,000 after buying an additional 642 shares in the last quarter. 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.