Bath & Body Works (NYSE:BBWI) Downgraded to Underweight Rating by Barclays

Bath & Body Works (NYSE:BBWI) was downgraded by Barclays from an “equal weight” rating to an “underweight” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. They currently have a $28.00 target price on the stock, down from their prior target price of $31.00. Barclays‘s price target suggests a potential downside of 11.76% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Telsey Advisory Group restated an “outperform” rating and set a $42.00 price target on shares of Bath & Body Works in a research note on Thursday, September 26th. UBS Group dropped their price target on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Raymond James dropped 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 note on Thursday, August 29th. Wells Fargo & Company decreased their price objective on shares of Bath & Body Works from $35.00 to $32.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group decreased their price objective on shares of Bath & Body Works from $60.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.44.

Bath & Body Works Stock Performance

Bath & Body Works stock opened at $31.73 on Friday. The firm has a market cap of $6.95 billion, a PE ratio of 7.68, a P/E/G ratio of 0.99 and a beta of 1.79. The firm’s 50 day moving average price is $30.02 and its two-hundred day moving average price is $37.08. 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 announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.37 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.54 billion. Equities analysts anticipate that Bath & Body Works will post 3.18 EPS for the current fiscal year.

Insider Transactions at Bath & Body Works

In other news, CEO Gina Boswell bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average price of $29.64 per share, for a total transaction of $177,840.00. Following the transaction, the chief executive officer now directly owns 242,987 shares of the company’s stock, valued at $7,202,134.68. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Bath & Body Works

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBWI. Meeder Asset Management Inc. boosted its stake in shares of Bath & Body Works by 480.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock valued at $55,000 after purchasing an additional 1,436 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Bath & Body Works by 200.3% in the 3rd quarter. Quest Partners LLC now owns 33,256 shares of the company’s stock valued at $1,062,000 after purchasing an additional 22,181 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Bath & Body Works by 1,842.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 175,301 shares of the company’s stock valued at $5,596,000 after purchasing an additional 166,277 shares during the last quarter. Frazier Financial Advisors LLC boosted its stake in shares of Bath & Body Works by 4.2% in the 3rd quarter. Frazier Financial Advisors LLC now owns 41,082 shares of the company’s stock valued at $1,311,000 after purchasing an additional 1,645 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in shares of Bath & Body Works by 18.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 33,429 shares of the company’s stock valued at $1,067,000 after purchasing an additional 5,203 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.