Bath & Body Works (NYSE:BBWI) Given New $47.00 Price Target at Robert W. Baird

Bath & Body Works (NYSE:BBWI) had its price target upped by research analysts at Robert W. Baird from $45.00 to $47.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 30.76% from the stock’s current price.

BBWI has been the topic of a number of other reports. Barclays raised shares of Bath & Body Works from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $34.00 to $43.00 in a research report on Monday. JPMorgan Chase & Co. upgraded shares of Bath & Body Works from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $47.00 in a report on Tuesday, February 18th. Argus reiterated a “hold” rating on shares of Bath & Body Works in a report on Friday, January 10th. Morgan Stanley reduced their price objective on Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Bath & Body Works presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.38.

Bath & Body Works Stock Down 12.5 %

BBWI opened at $35.95 on Friday. The firm has a market capitalization of $7.79 billion, a P/E ratio of 8.77, a PEG ratio of 0.92 and a beta of 1.83. The stock has a fifty day moving average of $37.76 and a 200-day moving average of $34.08. Bath & Body Works has a 12-month low of $26.20 and a 12-month high of $52.99.

Bath & Body Works (NYSE:BBWI) last announced its quarterly earnings data on Thursday, February 27th. The company reported $2.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. On average, analysts expect that Bath & Body Works will post 3.3 earnings per share for the current fiscal year.

Bath & Body Works declared that its Board of Directors has approved a stock buyback program on Thursday, February 27th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Bath & Body Works

Institutional investors and hedge funds have recently bought and sold shares of the stock. D1 Capital Partners L.P. bought a new stake in Bath & Body Works in the 4th quarter valued at $109,797,000. FMR LLC lifted its stake in shares of Bath & Body Works by 17,496.5% in the third quarter. FMR LLC now owns 2,516,127 shares of the company’s stock valued at $80,315,000 after buying an additional 2,501,828 shares during the period. Norges Bank bought a new stake in shares of Bath & Body Works in the fourth quarter valued at about $73,572,000. Arrowstreet Capital Limited Partnership grew its position in Bath & Body Works by 79.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,882,047 shares of the company’s stock worth $150,507,000 after buying an additional 1,715,096 shares in the last quarter. Finally, KBC Group NV increased its stake in Bath & Body Works by 9,023.5% during the third quarter. KBC Group NV now owns 1,701,813 shares of the company’s stock valued at $54,322,000 after acquiring an additional 1,683,160 shares during the period. Institutional investors own 95.14% of the company’s stock.

About Bath & Body Works

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.