Bath & Body Works (NYSE:BBWI) PT Lowered to $30.00

Bath & Body Works (NYSE:BBWI) had its price target reduced by investment analysts at Evercore ISI from $40.00 to $30.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price objective points to a potential upside of 3.13% from the stock’s current price.

A number of other brokerages have also recently issued reports on BBWI. Jefferies Financial Group cut shares of Bath & Body Works from a “buy” rating to a “hold” rating and dropped their target price for the company from $45.00 to $30.00 in a report on Thursday, October 26th. JPMorgan Chase & Co. cut Bath & Body Works from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $41.00 to $27.00 in a report on Tuesday, October 24th. UBS Group increased their price target on shares of Bath & Body Works from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, August 24th. Barclays upgraded shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $45.00 in a report on Tuesday, August 1st. Finally, Telsey Advisory Group dropped their target price on Bath & Body Works from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $42.71.

Bath & Body Works Stock Performance

NYSE:BBWI traded down $1.01 during mid-day trading on Friday, hitting $29.09. 3,743,974 shares of the company’s stock traded hands, compared to its average volume of 3,460,352. The company has a fifty day moving average of $32.14 and a 200 day moving average of $35.27. The company has a market capitalization of $6.61 billion, a P/E ratio of 9.48, a P/E/G ratio of 1.12 and a beta of 1.84. Bath & Body Works has a twelve month low of $27.30 and a twelve month high of $49.55.

Bath & Body Works (NYSE:BBWI) last posted its quarterly earnings data on Thursday, November 16th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.35 by $0.13. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. Bath & Body Works had a negative return on equity of 30.08% and a net margin of 9.47%. Bath & Body Works’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. On average, research analysts expect that Bath & Body Works will post 3.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Front Row Advisors LLC bought a new position in Bath & Body Works in the 3rd quarter valued at approximately $25,000. Money Concepts Capital Corp increased its position in shares of Bath & Body Works by 1,180.4% during the fourth quarter. Money Concepts Capital Corp now owns 653 shares of the company’s stock worth $28,000 after buying an additional 602 shares during the period. Desjardins Global Asset Management Inc. bought a new position in Bath & Body Works during the first quarter worth $36,000. Harvest Fund Management Co. Ltd acquired a new position in Bath & Body Works in the second quarter valued at $36,000. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Bath & Body Works by 55.5% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,065 shares of the company’s stock valued at $40,000 after purchasing an additional 380 shares in the last quarter. 94.31% of the stock is 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.