Argus Reaffirms Hold Rating for Bath & Body Works (NYSE:BBWI)

Bath & Body Works (NYSE:BBWI)‘s stock had its “hold” rating reaffirmed by stock analysts at Argus in a research note issued on Friday,Benzinga reports.

A number of other research firms have also recently commented on BBWI. Piper Sandler boosted their target price on shares of Bath & Body Works from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on Bath & Body Works from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised shares of Bath & Body Works from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $42.00 to $48.00 in a report on Friday. JPMorgan Chase & Co. upped their target price on Bath & Body Works from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $42.00 price target on shares of Bath & Body Works in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Bath & Body Works has an average rating of “Moderate Buy” and an average target price of $43.06.

Bath & Body Works Price Performance

BBWI stock traded down $0.33 during midday trading on Friday, reaching $36.64. 265,555 shares of the company’s stock traded hands, compared to its average volume of 2,704,398. The business has a 50-day moving average price of $35.60 and a two-hundred day moving average price of $33.81. Bath & Body Works has a fifty-two week low of $26.20 and a fifty-two week high of $52.99. The company has a market capitalization of $7.94 billion, a P/E ratio of 8.94, a PEG ratio of 1.43 and a beta of 1.82.

Bath & Body Works (NYSE:BBWI) last issued its earnings results on Monday, November 25th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. Bath & Body Works had a negative return on equity of 44.03% and a net margin of 12.43%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 earnings per share. As a group, research analysts forecast that Bath & Body Works will post 3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BBWI. True Wealth Design LLC lifted its position 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 acquiring an additional 1,054 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Bath & Body Works by 300.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the company’s stock valued at $38,000 after purchasing an additional 900 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Bath & Body Works in the 3rd quarter valued at $39,000. TD Private Client Wealth LLC increased its stake in Bath & Body Works by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,697 shares of the company’s stock worth $54,000 after purchasing an additional 331 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in Bath & Body Works by 480.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,735 shares of the company’s stock worth $55,000 after buying an additional 1,436 shares during the period. 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.