Bath & Body Works (NYSE:BBWI) Stock Rating Lowered by Barclays

Bath & Body Works (NYSE:BBWI) was downgraded by equities researchers at Barclays from an “equal weight” rating to an “underweight” rating in a research report issued on Friday, MarketBeat reports. They presently have a $28.00 price objective on the stock, down from their prior price objective of $31.00. Barclays‘s price objective indicates a potential downside of 6.67% from the stock’s previous close.

BBWI has been the topic of a number of other research reports. Piper Sandler cut their price target on Bath & Body Works from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Evercore ISI cut their target price on Bath & Body Works from $45.00 to $35.00 and set an “in-line” rating on the stock in a research note on Wednesday, August 28th. Raymond James reduced their price target on Bath & Body Works from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Robert W. Baird lowered their price target on Bath & Body Works from $54.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Finally, UBS Group reduced their price objective on shares of Bath & Body Works from $52.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.44.

Bath & Body Works Price Performance

Shares of BBWI opened at $30.00 on Friday. Bath & Body Works has a 12 month low of $26.20 and a 12 month high of $52.99. The stock has a fifty day moving average price of $30.01 and a 200 day moving average price of $36.93. The company has a market cap of $6.57 billion, a P/E ratio of 7.26, a PEG ratio of 1.01 and a beta of 1.79.

Bath & Body Works (NYSE:BBWI) last released 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. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.54 billion. Bath & Body Works had a net margin of 12.69% and a negative return on equity of 41.94%. As a group, research analysts anticipate that Bath & Body Works will post 3.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Gina Boswell bought 6,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were acquired at an average cost of $29.64 per share, with a total value of $177,840.00. Following the completion of the transaction, the chief executive officer now directly owns 242,987 shares in the company, valued at approximately $7,202,134.68. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Bath & Body Works

Hedge funds have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. lifted its stake in Bath & Body Works by 5.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,571 shares of the company’s stock worth $279,000 after acquiring an additional 277 shares in the last quarter. Empirical Finance LLC lifted its position in shares of Bath & Body Works by 3.6% in the first quarter. Empirical Finance LLC now owns 8,097 shares of the company’s stock worth $405,000 after purchasing an additional 278 shares in the last quarter. CWM LLC boosted its holdings in shares of Bath & Body Works by 6.6% during the second quarter. CWM LLC now owns 5,072 shares of the company’s stock worth $198,000 after purchasing an additional 314 shares during the period. Northwest Bank & Trust Co grew its position in Bath & Body Works by 2.5% during the first quarter. Northwest Bank & Trust Co now owns 13,094 shares of the company’s stock valued at $655,000 after purchasing an additional 315 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Bath & Body Works by 1.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 31,797 shares of the company’s stock valued at $1,560,000 after purchasing an additional 322 shares in the last quarter. Hedge funds and other institutional investors 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.