Piper Sandler Forecasts Strong Price Appreciation for Bath & Body Works (NYSE:BBWI) Stock

Bath & Body Works (NYSE:BBWI) had its price objective boosted by stock analysts at Piper Sandler from $36.00 to $39.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 6.04% from the stock’s previous close.

A number of other analysts have also issued reports on BBWI. Barclays raised their price target on Bath & Body Works from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 26th. TD Cowen raised their target price on shares of Bath & Body Works from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bath & Body Works from $51.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Wells Fargo & Company increased their price target on shares of Bath & Body Works from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley lowered their price objective on shares of Bath & Body Works from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.69.

Bath & Body Works Price Performance

Shares of NYSE BBWI opened at $36.78 on Monday. The company has a market cap of $7.97 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.43 and a beta of 1.82. The company has a 50-day simple moving average of $35.27 and a 200-day simple moving average of $33.76. 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 released its earnings results on Monday, November 25th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. Bath & Body Works had a net margin of 12.43% and a negative return on equity of 44.03%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the company earned $0.48 EPS. Bath & Body Works’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts anticipate that Bath & Body Works will post 3.26 EPS for the current year.

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. True Wealth Design LLC boosted its stake in shares of Bath & Body Works by 5,270.0% during the 3rd quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $34,000 after buying an additional 1,054 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Bath & Body Works by 300.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after acquiring an additional 900 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Bath & Body Works during the 3rd quarter valued at $39,000. TD Private Client Wealth LLC grew its holdings in Bath & Body Works by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after acquiring an additional 331 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position 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 worth $55,000 after purchasing an additional 1,436 shares during 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.