Bath & Body Works (NYSE:BBWI) Price Target Cut to $32.00 by Analysts at Wells Fargo & Company

Bath & Body Works (NYSE:BBWI) had its price target decreased by Wells Fargo & Company from $35.00 to $32.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 1.14% from the stock’s previous close.

A number of other research firms have also recently weighed in on BBWI. BMO Capital Markets reaffirmed an “outperform” rating and set a $50.00 price target (down previously from $52.00) on shares of Bath & Body Works in a report on Thursday, August 29th. The Goldman Sachs Group dropped their target price on Bath & Body Works from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft dropped their target price on Bath & Body Works from $57.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Telsey Advisory Group restated an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a research report on Thursday, September 26th. Finally, Raymond James decreased their price target on shares of Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.63.

Bath & Body Works Stock Up 0.1 %

Shares of Bath & Body Works stock traded up $0.02 during trading hours on Wednesday, hitting $31.64. 159,428 shares of the company’s stock traded hands, compared to its average volume of 3,714,874. The stock has a 50 day simple moving average of $30.08 and a 200-day simple moving average of $37.25. The company has a market cap of $6.93 billion, a PE ratio of 7.66, a PEG ratio of 0.92 and a beta of 1.79. Bath & Body Works has a twelve month low of $26.20 and a twelve month high of $52.99.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Wednesday, August 28th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.54 billion. As a group, equities research analysts predict that Bath & Body Works will post 3.18 EPS for the current year.

Insider Transactions at Bath & Body Works

In other Bath & Body Works news, CEO Gina Boswell acquired 6,000 shares of Bath & Body Works stock in a transaction on Wednesday, October 9th. The shares were purchased at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the purchase, the chief executive officer now owns 242,987 shares in the company, valued at $7,202,134.68. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Bath & Body Works

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Community Trust NA bought a new stake in shares of Bath & Body Works during the 2nd quarter worth about $30,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Bath & Body Works by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after acquiring an additional 900 shares during the period. GAMMA Investing LLC increased its position in Bath & Body Works by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,846 shares of the company’s stock valued at $72,000 after acquiring an additional 730 shares during the period. EntryPoint Capital LLC boosted its stake in Bath & Body Works by 224.0% during the first quarter. EntryPoint Capital LLC now owns 1,471 shares of the company’s stock worth $74,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in Bath & Body Works during the third quarter worth $103,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

About Bath & Body Works

Bath & Body Works, Inc operates a specialty retailer of home fragrance, body care, and soaps and sanitizer products. It sells its products under the Bath & Body Works, White Barn, and other brand names through retail stores and e-commerce sites located in the United States and Canada, as well as through international stores operated by partners under franchise, license, and wholesale arrangements.